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Financial News: Eurozone Current Account Balance Turns To Deficit In

Eurozone Current Account Balance Turns To Deficit In March

05/19/2022 - 09:36:00 (RTTNews)

(RTTNews) - Eurozone current account balance swung to a deficit in March from a surplus in the previous month, the European Central Bank said on Thursday.

The current account balance showed a deficit of EUR 2.0 billion in March versus a surplus of EUR 16.0 billion in February. In the corresponding month last year, there was a surplus of EUR 27.0 billion.

In the twelve months to March ,the current account surplus totaled EUR 219 billion, which constituted 1.8 percent of euro area GDP, down from EUR 294 billion a year earlier.

The deficit on goods trade was EUR 4.0 billion in April as compared to a surplus of EUR 5 billion in the previous month.

The surplus in services rose to EUR 14 billion from EUR 13 billion, while the primary income balance shrank notably from EUR 7 billion to EUR 1 billion.

The deficit in the secondary account widened to EUR 12.0 billion in March from EUR 10 billion a month ago.

In financial account, euro area residents' net acquisitions of non-euro area portfolio investment securities totaled EUR 458 billion and non-residents' net acquisitions of euro area portfolio investment securities totaled EUR 170 billion in twelve months to March 2022, data showed.

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