From 1980 to 2008, Spain had a steady increase in GDP per capita. However, in 2009, the GDP per capita dropped, which means that people in the country had a lower income than the previous year. After that drop in GDP, it went back up again this year. Since the GDP in rising, it means that people can spend more money on imports. This would bring in more imports than exports, which leads to a current account deficit. ARTICLE: http://blogs.wsj.com/s … Read More
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