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Financial News: Eurozone Current Account Surplus Rises In January

Eurozone Current Account Surplus Rises In January

03/22/2019 - 08:24:00 (RTTNews)

(RTTNews) - Eurozone's current account surplus grew in January from the previous month, preliminary data from the European Central Bank showed on Friday.

The current account surplus rose to EUR 37 billion from EUR 16 billion in December.

Surpluses in goods, services and primary income accounts were partly offset by a deficit in the secondary income account.

In the 12 months to January, the current account surplus was EUR 345 billion, or 3 percent of GDP, versus EUR 380 billion, or 3.4 percent of GDP, in the same period a year ago.

The surplus in the financial account in the 12 months to January rose to EUR 395 billion from EUR 388 billion in the same period last year.

Net acquisitions of foreign portfolio investment securities by euro area residents totaled EUR 45 billion, which was much less than the EUR 702 billion a year ago. Net sales of euro area portfolio investment securities by non-residents totaled EUR 18 billion.

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