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- Eurozone's current account surplus fell sharply in January
Eurozone's current account surplus fell sharply in January
According to the report from European Central Bank, in January 2020 the current account of the euro area recorded a surplus of €35 billion, compared with a surplus of €33 billion in December 2019.
In the 12-month period to January 2020, the current account recorded a surplus of €364 billion (3.1% of euro area GDP), compared with a surplus of €359 billion (also 3.1% of euro area GDP) in the 12 months to January 2019.
In the financial account, euro area residents made net acquisitions of foreign portfolio investment securities totalling €393 billion in the 12-month period to January 2020 (up from €138 billion in the 12 months to January 2019). Over the same period, non-residents made net acquisitions of euro area portfolio investment securities amounting to €419 billion (in comparison with net sales of €45 billion).
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