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.

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Euro Area Current Account



Calendar GMT Actual Previous Consensus TEForecast
2022-06-21 08:00 AM Apr €-5.4B €8.66B €16B
2022-07-20 08:00 AM May €-15.4B €-3.6B €-3B
2022-08-19 08:00 AM Jun €-15.4B €19B


Related Last Previous Unit Reference
Current Account -15.40 -3.60 EUR Billion May 2022
External Debt 16415917.53 16025333.04 EUR Million Mar 2022
Capital Flows 15.48 -39.36 EUR Billion May 2022

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).
Actual Previous Highest Lowest Dates Unit Frequency
-15.40 -3.60 50.51 -33.54 1999 - 2022 EUR Billion Monthly
Current Prices, NSA

News Stream
Euro Area Current Account Deficit Highest in Over 2 Years
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.
2022-07-20
Eurozone Current Account Swings to Deficit in April
The Euro Area recorded a current account gap of EUR 5.4 billion in April of 2022, compared with a EUR 32.3 billion surplus in the same month of the previous year, as the goods account switched to a deficit of EUR 4.6 billion from a surplus of EUR 28.4 billion on surging oil and gas prices due to Russia's war in Ukraine. Also, the primary income account posted a EUR 2.5 billion shortfall, versus a EUR 7.4 billion surplus last year while the secondary income gap edged down to EUR 11.5 billion from EUR 11.7 billion. Meanwhile, the services surplus rose to EUR 13.2 billion from EUR 8.3 billion.
2022-06-21
Eurozone Current Account Surplus Shrinks in March
The Euro Area current account surplus narrowed to EUR 8.7 billion in March of 2022 from EUR 39.7 billion in the corresponding month of the previous year. The goods surplus shrank to EUR 4.7 billion from EUR 37.7 billion and the primary income surplus decreased to EUR 4.8 billion from EUR 10 billion. Meanwhile, the services surplus widened to EUR 12.5 billion from EUR 5.6 billion and the secondary income gap fell to EUR 13.4 billion from EUR 13.6 billion.
2022-05-19