Eurozone Current Account Surplus Narrows Slightly to €21 Billion

Source: European Central Bank

The eurozone posted a slightly narrower surplus in February due to the secondary income deficit recorded in the period. EZU is down 0.26%, while VGK is down 0.50%.

• The current account surplus stood at €21 billion in February, €1 billion lower than the €22-billion surplus recorded in the month prior.
• The latest level comes as credit increased to €410 billion from €405 billion, while debt increased at a faster pace to €390 billion from €384 billion.
• A lower surplus was seen in goods which fell to €10 billion from €12 billion, and services which fell to €14 billion from €17 billion.
• Primary income reported a slightly higher surplus for the month at 7 billion, following the €6 billion in January.
• The surplus in most sectors was partly offset by the deficit in the secondary income of €10 billion after the €13-billion deficit the month earlier.
• The current account surplus for the 12 months to February amounted to €253 billion or 2.1% of the GDP, versus €271 billion or 2.4% the year earlier.