The Euro Area recorded a current account gap of €15.4 billion in May of 2022, the biggest deficit since January of 2020, and compared to a €15.9 billion surplus a year earlier, as rising energy costs continue to lift imports' value. The primary income account recorded a €16.3 billion deficit and the secondary income account a €11.9 billion gap. On the other hand, the goods account recorded a surplus of €0.6 billion and the services account a €12.2 billion surplus. In the 12 months to May, the current account surplus narrowed to 1.1% of GDP from 3% in the previous year. source: European Central Bank
Current Account in the Euro Area averaged 8.23 EUR Billion from 1999 until 2022, reaching an all time high of 50.51 EUR Billion in December of 2017 and a record low of -33.54 EUR Billion in January of 2008. This page provides the latest reported value for - Euro Area Current Account - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Euro Area Current Account - data, historical chart, forecasts and calendar of releases - was last updated on August of 2022.
Current Account in Euro Area is expected to be 33.00 EUR Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Euro Area Current Account is projected to trend around 34.00 EUR Billion in 2023 and 24.00 EUR Billion in 2024, according to our econometric models.