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- Eurozone сurrent account surplus surges in February
Eurozone сurrent account surplus surges in February
According to the report from European Central Bank, the current account of the euro area recorded a surplus of €40 billion in February 2020, increasing by €8 billion from the previous month. Surpluses were recorded for goods (€33 billion), primary income (€10 billion) and services (€5 billion). These were partly offset by a deficit for secondary income (€8 billion).
In the 12-month period to February 2020, the current account recorded a surplus of €339 billion (2.8% of euro area GDP), compared with a surplus of €361 billion (3.1% of euro area GDP) in the 12 months to February 2019.
In the financial account, euro area residents made net acquisitions of foreign portfolio investment securities totalling €482 billion in the 12-month period to February 2020 (up from €87 billion in the 12 months to February 2019). Over the same period, non-residents made net acquisitions of euro area portfolio investment securities amounting to €508 billion (up from €23 billion).
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