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Euro Area Current Account Surplus Widens to €24B in November

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The Euro area’s current account surplus widened in November 2021, driven mainly by the performance of services and goods.

Source: European Central Bank

VGK is flat premarket.

The current account balance recorded a €24-billion surplus in November, up from the €19-billion surplus the previous month but lower than the €25-billion the same month in 2020.

Surpluses were recorded in both services with €23 billion and goods with €16 billion. Primary income was balanced, while secondary income registered a €15-billion deficit, unchanged from the previous month.

The year-to-date current account recorded a €320-billion surplus, up from the €195-billion surplus in the comparable period in 2020. This comes as the services balance shifted to a €113-billion surplus from the €12-billion deficit the previous year.

Year-to-date net acquisitions of non-Euro area portfolio investment securities stood at €878 billion, while non-residents’ net acquisitions of Euro area portfolio investment totaled €165 billion.

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