Financial News: Eurozone Current Account Surplus Increases In September

Eurozone Current Account Surplus Increases In September

11/19/2024 - 04:23:00 (RTTNews)

(RTTNews) - The euro area current account surplus increased in September on a rebound in primary income, data from the European Central Bank showed on Tuesday.

The current account surplus totaled EUR 37 billion in September, up from EUR 35 billion in the previous month. The surplus was forecast to fall to EUR 27.0 billion. Primary income climbed to EUR 2 billion compared to a shortfall of EUR 3 billion in the previous month. The deficit on secondary income narrowed to EUR 14 billion from EUR 15 billion.

At the same time, the surplus on goods trade decreased to EUR 33 billion from EUR 34 billion and that on services fell to EUR 16 billion from EUR 19 billion.

In the twelve months to September, the current account surplus was EUR 425 billion or 2.8 percent of GDP. This was up from EUR 182 billion or 1.3 percent of GDP in the previous year.

In financial account, euro area residents' net acquisitions of non-euro area portfolio investment securities came in at EUR 551 billion and non-residents' net acquisitions of euro area portfolio investment securities was EUR 686 billion in the twelve months to September.

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