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Spain October Current Account Surplus Rises

Spain's current account surplus in October increased from a year ago, helped mainly by improvements in the current transfers, services and goods trade balances, the Bank of Spain said on Friday.

The current account surplus surged to EUR 1.714 billion from EUR 422.7 million in the same month last year. In September, the surplus was a revised EUR 146 million. Spain has logged surplus in the current account since May.

The deficit in the current transfers account shrunk significantly to EUR 185.5 million from EUR 528.3 million. The surplus in the services trade grew to EUR 4.540 billion from EUR 3.627 billion a year ago.

The merchandise trade deficit narrowed to EUR 921.6 million from EUR 1.087 billion. Exports increased 2.5 percent, while imports rose 1.7 percent.

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