Net capital outflow reaches 235.4 bln euros in Spain

Source:Xinhua Published: 2012-9-29 13:04:46

The net capital outflow reached in the first seven months of the year 235.4 billion euros (about 304 billion US dollars), the Bank of Spain reported on Friday.

The Spanish institution published Friday that the net capital outflow reached 15 billion euros in July, of a total of 235.4 billion euros in the first seven months of the year, in which the operations of the Bank of Spain are not included.

This figure is much higher than the one registered in the same period in 2011, when the net capital outflow was 4.8 billion euros.

These figures correspond to net capital outflows in portfolio investment, loans and deposits. Those that have been less affected by the net capital outflow were portfolio investments.

Net capital outflow regarding portfolio investment reached 83 billion euros; meanwhile other investments reached 165 billion euros from January to July 2012.

Data released Friday imply a slowdown in net capital outflows if the data are compared with the figures of May and June 2012. In May, the net capital outflow was 41.3 billion euros and in June was 56.6 billion euros.

Given the numbers revealed on Friday, there have been 13 consecutive months of net capital outflow in Spain which proves the increasing distrust of foreign investors on the recovery of the Spanish economy. (1 euro = 1.29 US dollars)

Posted in: Economy

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