Eurozone Current Account Surplus Shrinks
The euro area current account surplus decreased to a 3-month low in February, the European Central Bank reported Thursday.
The current account surplus dropped to EUR 29.0 billion in February from EUR 39.0 billion in January. This was the lowest surplus since November last year.
The surplus on goods trade decreased to EUR 34 billion from EUR 48 billion. By contrast, the surplus on services rose to EUR 7.0 billion from EUR 4.0 billion.
Primary income posted a shortfall of EUR 2.0 billion in February, compared to a EUR 3.0 billion deficit last month. Similarly, the shortfall in secondary income narrowed to EUR 9.0 billion from EUR 10.0 billion.
In the financial account, euro area residents' net acquisitions of non-euro area portfolio investment securities totaled EUR 443 billion, and non-residents' net acquisitions of euro area portfolio investment securities amounted to EUR 614 billion in the 12 months to February 2024, the data showed.
Economic News
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