The Euro Area current account surplus widened to EUR 36.6 billion in November of 2019 from EUR 31.8 billion in the corresponding month of the previous year. The services surplus rose to EUR 6.6 billion from EUR 4.4 billion a year earlier and the secondary income deficit narrowed to EUR 9.5 billion from EUR 13.9 billion. On the other hand, the goods surplus declined to EUR 28.5 billion from EUR 29.0 billion a year earlier and the primary income surplus fell to EUR 11.0 billion from EUR 12.2 billion. Current Account in the Euro Area averaged 7.57 EUR Billion from 1999 until 2019, reaching an all time high of 51.10 EUR Billion in December of 2017 and a record low of -33.54 EUR Billion in January of 2008. source: European Central Bank

Current Account in Euro Area is expected to be 30.10 EUR Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Euro Area to stand at 25.10 in 12 months time. In the long-term, the Euro Area Current Account is projected to trend around 28.90 EUR Billion in 2020, according to our econometric models.

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Euro Area Current Account

Actual Previous Highest Lowest Dates Unit Frequency
36.59 44.39 51.10 -33.54 1999 - 2019 EUR Billion Monthly
Current Prices, NSA



Calendar GMT Actual Previous Consensus TEForecast
2019-10-18 08:50 AM Aug €25.7B €31.4B €17.6B €21.9B
2019-11-19 09:00 AM Sep €35.8B €27.6B €23.4B €21.5B
2019-12-20 09:00 AM Oct €41B €35.8B €26.7B €28.6B
2020-01-17 09:00 AM Nov €36.6B €44.4B €32.2B
2020-02-19 09:00 AM Dec €36.6B €29.5B


News Stream
2019-12-20
Eurozone Current Account Surplus Rises in October
The Euro Area current account surplus widened to EUR 40.96 billion in October of 2019 from EUR 36.11 billion in the same month last year and well above market expectations of EUR 26.7 billion. The goods surplus rose to EUR 34.3 billion from EUR 25.6 billion a year earlier and the services surplus increased to EUR 9.2 billion from EUR 7.2 billion. Meanwhile, the primary income surplus dropped to EUR 10.1 billion from EUR 16.5 billion while the secondary income deficit was smaller at EUR 12.7 billion, compared to EUR 13.1 billion.

2019-11-19
Eurozone Current Account Surplus Widens
The Euro Area current account surplus widened to EUR 35.8 billion in September 2019 from EUR 27.7 billion in the same month last year and well above market expectations of EUR 23.4 billion. The goods surplus rose to EUR 27.3 billion from EUR 19.7 billion a year earlier and the services surplus increased to EUR 15.6 billion from EUR 13.6 billion. Meanwhile, the primary income surplus dropped to EUR 4.6 billion from EUR 6.4 billion while the secondary income deficit was smaller at EUR 11.7 billion, compared to EUR 12.1 billion.

2019-10-18
Eurozone Current Account Surplus Narrows in August
The Euro Area current account surplus narrowed to EUR 25.7 billion in August 2019 from EUR 29.6 billion in the corresponding month of the previous year and compared with market expectations of a EUR 17.6 billion surplus. The services surplus fell to EUR 8.7 billion from EUR 10.7 billion and the primary income surplus declined to EUR 8.7 billion from 10.3 billion. Also, the secondary income gap increased to EUR 11.9 billion from EUR 10.4 billion a year earlier. On the other hand, the goods surplus widened to EUR 20.2 billion from EUR 19.1 billion in August 2018.

2019-09-19
Eurozone Current Account Surplus Narrows in July
The Euro Area current account surplus narrowed to EUR 29.8 billion in July 2019 from EUR 30.2 billion in the corresponding month of the previous year and compared with market expectations of a EUR 26.2 billion surplus. The services surplus declined sharply to EUR 4.6 billion from EUR 12.0 billion and the primary income surplus decreased to EUR 4.9 billion from 6.0 billion. On the other hand, the goods surplus increased to EUR 32.7 billion from EUR 24.8 billion a year earlier and the secondary income shortfall fell to EUR 12.3 billion from EUR 12.6 billion.

2019-08-19
Eurozone Current Account Surplus Narrows in June
The Euro Area current account surplus narrowed to EUR 23.1 billion in June 2019 from EUR 30.7 billion in the same month last year, as the services surplus declined to EUR 7.2 billion from EUR 13.1 billion; while the primary income account was in balance, compared to a EUR 1.2 billion surplus in June 2018. Meanwhile, the goods surplus was little-changed at EUR 27.6 billion and the secondary income deficit increased to EUR 11.8 billion from EUR 11.3 billion.

2019-07-19
Eurozone Current Account Surplus Widens in May
The Eurozone current account surplus widened to EUR 13.3 billion in May 2019 from EUR 9.3 billion in the corresponding month of the previous year. The goods surplus increased to EUR 28.9 billion from EUR 22.6 billion a year earlier; the primary income deficit narrowed to EUR 15.2 billion from EUR 16.8 billion and the secondary income gap declined to EUR 6.2 billion from EUR 6.5 billion. On the other hand, the services surplus fell to EUR 5.9 billion from EUR 10.1 billion a year ago. In January-May, the current account surplus decreased to EUR 97.6 billion from EUR 113.1 billion in the same period of 2018.


Euro Area Current Account
Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).

Euro Area Trade Last Previous Highest Lowest Unit
Balance of Trade 20720.40 27619.20 30614.30 -16297.90 EUR Million [+]
Current Account 36.59 44.39 51.10 -33.54 EUR Billion [+]
Current Account to GDP 3.10 3.10 3.20 -1.50 percent [+]
Imports 177024.80 190875.90 196134.30 55698.40 EUR Million [+]
Exports 197745.20 218495.10 218495.10 53045.90 EUR Million [+]
External Debt 15089197.68 14695492.50 15089197.68 5501622.00 EUR Million [+]
Capital Flows 41.59 62.44 81.77 -86.64 EUR Billion [+]
Gold Reserves 504.77 504.80 766.88 501.45 Tonnes [+]