FX.co ★ Eurozone Current Account Surplus Surges in January

The Eurozone’s current account surplus widened to €12.98 billion in January 2026, up sharply from a revised €3.09 billion in the same month a year earlier. This increase was primarily driven by a stronger services surplus, which expanded to €10.17 billion from €5.41 billion, and by a turnaround in the primary income balance, which shifted to a surplus of €4.26 billion following a deficit of €4.69 billion in January 2025.

These gains were partly offset by a narrowing goods surplus, which declined to €15.24 billion from €18.78 billion, while the secondary income deficit was broadly unchanged at €16.68 billion, compared with €16.41 billion a year earlier.

On a seasonally adjusted basis, the current account surplus soared to €37.89 billion in January 2026, a marked increase from a revised €13.30 billion in December 2025.