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Financial News: Eurozone Current Account Surplus Rises In October

Eurozone Current Account Surplus Rises In October

12/20/2019 - 07:11:00 (RTTNews)

(RTTNews) - The euro area current account surplus increased in October driven by trade surplus and primary income, data from the European Central Bank showed Friday.

The current account surplus advanced to EUR 32 billion from EUR 28 billion in the previous month.

The surplus on trade in goods increased to EUR 30 billion from EUR 27 billion and the surplus on services remained unchanged at EUR 10 billion.

Primary income increased to EUR 6 billion from EUR 4 billion. At the same time, the shortfall in secondary income held steady at EUR 13 billion.

In the twelve-month period to October, the current account posted a surplus of EUR 324 billion or 2.7 percent of euro area GDP, compared with a surplus of EUR 373 billion in the same period last year.

In the financial account, euro area residents made net acquisitions of foreign portfolio investment securities totaled EUR 308 billion in the 12-month period to October. Over the same period, non-residents made net acquisitions of euro area portfolio investment securities was EUR 276 billion.

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