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Eurozone’s Current Account Surplus Unchanged in October

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close up of euro banknote with coin, selective focus on the word EURO.

The Euro area’s current account surplus was unchanged in October from the previous month, causing the cumulative figures for the last year to post a wider surplus versus the previous year.

Source: European Central Bank

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The current account surplus for the month stood at €18 billion, unchanged from the previous month but narrower than €28 billion in October 2020. The cumulative surplus was recorded at €311 billion, wider than €196 billion a year ago.

Surpluses were seen in goods with €16 billion and services with €16 billion, which were partly offset by a €15-billion deficit in secondary income, while the primary income was balanced for the month.

The wider surplus in the 12 months to October was mainly driven by a switch in the services balance to a surplus of €98 billion from the €28-billion deficit, along with larger surpluses for primary income and goods.

The developments were partly offset by a larger secondary income deficit of €170 billion versus €148 billion previously.

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