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Eurozone Current Account Surplus At 1-Year High

The euro area current account surplus increased to one-year high in September, the European Central Bank reported Thursday.

The current account surplus rose to EUR 25 billion in September from EUR 21 billion in the previous month. This was the highest since September 2019, when it was EUR 31.5 billion.

The surplus on goods trade increased to EUR 33 billion from EUR 31 billion in the prior month. Likewise, the surplus on services climbed to EUR 7 billion from EUR 4 billion.

The deficit on primary income narrowed to EUR 2 billion from EUR 3 billion, while the shortfall on secondary income widened to EUR 12 billion from EUR 11 billion.

In twelve months to September, the current account surplus was EUR 222 billion or 1.9 percent of GDP, down from EUR 270 billion in the same period last year.

In financial account, euro area residents’ net acquisitions of foreign portfolio investment securities totaled EUR 462 billion and non-residents’ net acquisitions of euro area portfolio investment securities totaled EUR 384 billion in twelve months to September.

The material has been provided by InstaForex Company – www.instaforex.com