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Financial News: Eurozone Current Account Surplus Rises In November

Eurozone Current Account Surplus Rises In November

01/19/2018 - 04:19:00 (RTTNews)

(RTTNews) - The euro area current account surplus increased in November after falling for two straight months, data from the European Central Bank showed Friday.

The current account surplus rose to EUR 32.5 billion from EUR 30.3 billion in October.

The surplus on trade in goods increased to EUR 31.1 billion from EUR 26.4 billion a month ago. Meanwhile, the surplus on services fell to EUR 4.5 billion from EUR 6.8 billion.

Primary income climbed to EUR 10.5 billion from EUR 9.6 billion. On the other hand, the secondary income showed a bigger deficit of EUR 13.6 billion versus EUR 12.5 billion in the previous month.

The 12-month cumulated current account for the period ending in November registered a surplus of EUR 386.1 billion or equivalent to 3.5 percent of euro area GDP.

On an unadjusted basis, the current account surplus was EUR 37.8 billion versus EUR 35.4 billion in October.

In the financial account, combined direct and portfolio investment recorded net acquisitions of assets of EUR 45 billion and net incurrences of liabilities of EUR 30 billion.

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