Financial News: Eurozone Current Account Surplus Shrinks In October

Eurozone Current Account Surplus Shrinks In October

12/19/2024 - 07:06:00 (RTTNews)

(RTTNews) - The euro area current account surplus decreased in October amid deficits in primary and secondary income balances, data from the European Central Bank showed on Thursday.

The current account surplus totaled EUR 26 billion in October, down from EUR 39 billion in the previous month.

The surplus on goods trade decreased to EUR 30 billion from EUR 32 billion, while those on services remained stable at EUR 15 billion.

Meanwhile, primary income turned to a deficit of EUR 5 billion from a surplus of EUR 5 billion in the previous month. The deficit on secondary income widened to EUR 15 billion from EUR 14 billion.

In the twelve months to October, the current account surplus was EUR 435 billion, or 2.9 percent of GDP. This was up from EUR 206 billion, or 1.4 percent of GDP, in the previous year.

In the financial account, euro area residents' net acquisitions of non-euro area portfolio investment securities came in at EUR 623 billion, and non-residents' net acquisitions of euro area portfolio investment securities were EUR 741 billion in the twelve months to October.

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