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Financial News: Eurozone Current Account Surplus At Record High

Eurozone Current Account Surplus At Record High

11/17/2017 - 04:59:00 (RTTNews)

(RTTNews) - The euro area current account surplus rose to a record high in September, figures from the European Central Bank showed Friday.

The seasonally adjusted current account surplus grew to EUR 37.8 billion in September from EUR 34.5 billion in August.

Moreover, this was the highest surplus since the formation of the currency bloc.

The surplus on goods trade increased to EUR 35.2 billion from EUR 29.4 billion a month ago. The surplus on services rose slightly from EUR 7.2 billion to EUR 7.3 billion.

However, primary income declined to EUR 9.7 billion from EUR 10.4 billion. On the other side, the deficit on secondary income widened to EUR 14.3 billion from EUR 12.4 billion.

The 12-month cumulated current account for the period ending in September 2017 recorded a surplus of EU 346.4 billion, equivalent to 3.2 percent of euro area GDP, compared with EUR 359.3 billion or 3.4 percent of euro area GDP for the 12 months to September 2016.

In September, combined direct and portfolio investment recorded net acquisitions of assets of EUR 52 billion and net disposals of liabilities of EUR 6.0 billion.

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