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- Eurozone current account balance decreased in February
Eurozone current account balance decreased in February
According to the report from European Central Bank, the current account of the euro area recorded a surplus of €27 billion in February 2019, decreasing by €10 billion compared with January 2019. Surpluses were recorded for goods (€26 billion), services (€6 billion) and primary income (€7 billion). These were partly offset by a deficit for secondary income (€13 billion).
In the 12 months to February 2019, the current account recorded a surplus of €335 billion (2.9% of euro area GDP), compared with one of €374 billion (3.3% of euro area GDP) in the 12 months to February 2018. This decline was driven mainly by smaller surpluses for goods (down from €324 billion to €278 billion) and services (down from €110 billion to €102 billion), and by a larger deficit for secondary income (up from €141 billion to €157 billion). These developments were only partly offset by a larger surplus for primary income (up from €82 billion to €112 billion).
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