Euro Area Current Account Surplus Slips to €13 Billion

Source: European Central Bank

The Euro area current account slipped in August, both from the previous month and the same month last year. EZU is down 0.18% premarket.

• The current account surplus stood at €13 billion in August, down from €23 billion in July and €24 billion in August 2020.
• The current account surplus for the 12 months to August stood at €328 billion or 2.8% of GDP, up from €176 billion or 1.5% of GDP last year.
• Goods were recorded at €17 billion, down from €26 billion in July and €31 billion in August 2020.
• Services were recorded at -€1 billion, lower than the €7 billion in July and €1 billion the same month last year.
• Primary income climbed to €5 billion from €4 billion the previous month and €2 billion the same month last year.
• Secondary income increased to -€8 billion from -€14 billion in July and -€10 billion in August 2020. 
• Direct investments included €9 billion in Euro area investments and €37 billion from Euro area assets.
• Portfolio investments of Euro areas stood at €535 billion, with net purchases of non-Euro area debt securities at €406 billion.