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- Euro Area current account improves in August
Euro Area current account improves in August
The current account of the euro area recorded a surplus of €29.7 billion in August 2016. This reflected surpluses for goods (€30.9 billion), services (€4.8 billion) and primary income (€6.6 billion), which were partly offset by a deficit in secondary income (€12.6 billion).
The 12-month cumulated current account for the period ending in August 2016 recorded a surplus of €350.0 billion (3.3% of euro area GDP), compared with one of €317.0 billion (3.1% of euro area GDP) for the 12 months to August 2015. This development was mostly due to an increase in the surplus for goods (from €327.7 billion to €372.7 billion), as well as a decrease in the deficit for secondary income (from €134.4 billion to €123.6 billion). These were partly offset by decreases in the surpluses for services (from €65.4 billion to €56.5 billion) and primary income (from €58.3 billion to €44.4 billion).
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