Eurozone Current Account Swings to Deficit in March

Source: European Central Bank

The eurozone posted a current account deficit in March, as credit declined while debit increased during the month. EZU is down 0.43%, and VGK is a flat premarket.

• The current account posted a €2-billion deficit in March, which compares with the €16-billion surplus in February and €27-billion surplus in March 2021.
• Current account credit fell to €403 billion from €409 billion, while debit climbed to €405-billion from €393 billion.
• The goods balance recorded a €4-billion deficit, reflecting the €228-billion credit and €232-billion debit.
• The services balance recorded a €14-billion surplus, higher than the €13-billion surplus the previous month. Credit surplus stood at €97 billion, and debit at €83 billion.
• The primary income balance was €1 billion, lower than the €7-billion surplus in February. Both credit and debit were €66 billion.
• Secondary income balance stood at a €12-billion deficit, with credit at €12 billion and debit at €24-billion debit.