FX.co ★ Euro Zone Current Account Surplus Shrinks Sharply in January

The Euro Zone’s current account surplus narrowed significantly at the start of 2026, pointing to a weaker external balance after a strong year-end performance. According to the latest data updated on 20 March 2026, the non-seasonally adjusted current account surplus fell to €13.0 billion in January 2026.

This marks a steep decline from December 2025, when the surplus stood at €34.6 billion. The January figures suggest a notable cooling in external surpluses following the robust year-end level, potentially reflecting seasonal effects as well as shifts in trade and income flows at the turn of the year.

While the data offer only an early snapshot for 2026, the sharp month-on-month drop may draw attention from policymakers and market participants assessing the strength of the Euro Zone’s external position after the strong close to 2025.