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FX.co ★ Eurozone Current Account Surplus Declines In February

Eurozone Current Account Surplus Declines In February

The euro area current account surplus declined in February largely due to a fall in the goods trade surplus, data published by the European Central Bank showed on Monday.

The current account surplus totaled EUR 26 billion versus a EUR 35 billion surplus in January.

The surplus on goods trade fell to EUR 32 billion from EUR 38 billion and that on services trade decreased to EUR 11 billion from EUR 12 billion in the previous month.

Primary income showed a shortfall of EUR 2 billion versus -EUR 1 billion in January. Likewise, the shortfall on secondary income widened to EUR 16 billion from EUR 15 billion.

In twelve months to February, the current account surplus came in at EUR 259 billion, or 2.3 percent of euro area GDP, down from EUR 263 billion or 2.2 percent a year earlier.

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