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Financial News: Eurozone Current Account Surplus Remains Unchanged

Eurozone Current Account Surplus Remains Unchanged

12/20/2021 - 06:00:00 (RTTNews)

(RTTNews) - The euro area current account surplus remained unchanged in October, data from the European Central Bank showed on Monday.

The current account surplus came in at EUR 18 billion in October, unchanged from September.

In twelve months to October, the current account surplus totaled EUR 311 billion or 2.6 percent of GDP, up from EUR 186 billion or 1.6 percent of GDP a year earlier. In October, the surplus on goods trade decreased to EUR 16 billion compared to EUR 18 billion in the previous month. The surplus on services increased sharply to EUR 16 billion from EUR 9 billion.

Primary income remained zero compared to EUR 5 billion a month ago. The shortfall on secondary income held steady at EUR 15 billion.

In financial account, euro area residents' net acquisitions of non-euro area portfolio investment securities totaled EUR 937 billion and non-residents' net acquisitions of euro area portfolio investment securities totaled EUR 140 billion in twelve months to October, data showed.

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