Financial News: Eurozone Current Account Surplus Near 2-Year High

Eurozone Current Account Surplus Near 2-Year High

(RTTNews) - The euro area current account surplus rose to the highest level in nearly two years in March on trade surplus, the European Central Bank reported Tuesday.

The current account posted EUR 31 billion surplus in March compared to a EUR 24 billion in February. This was the highest since April 2021.

The surplus on goods trade rose to EUR 41 billion from EUR 28 billion a month ago. Meanwhile, the surplus on services declined to EUR 5 billion from EUR 13 billion.

Primary income showed a negative balance of EUR 1 billion compared to a shortfall of EUR 5 billion in February. The shortfall in the secondary income widened to EUR 14 billion from EUR 12 billion.

In the twelve months to March, the current account deficit totaled EUR 76 billion or 0.6 percent of euro area GDP. A year earlier, the surplus was EUR 189 billion or 1.5 percent of GDP.

In financial account, euro area residents' net sales of non-euro area portfolio investment securities totaled EUR 181 billion, data showed. Non-residents' net acquisitions of euro area portfolio investment securities came in at EUR 162 billion in twelve months to March.

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