Eurozone Current Account Surplus Falls In December

The euro area current account surplus declined in December, the European Central Bank said on Friday.

The current account surplus decreased to EUR 23 billion from EUR 24 billion in the previous month.

In December, surpluses were recorded for services, goods and primary income. The surplus on goods trade dropped to EUR 11 billion from EUR 15 billion. Likewise, the surplus on services fell to EUR 18 billion from EUR 23 billion. Meanwhile, primary income rose to EUR 7 billion from EUR 1 billion.

These surpluses were partly offset by a EUR 14 billion deficit for secondary income.

In the whole year of 2021, the current account surplus totaled EUR 310 billion or 2.6 percent of euro area GDP, up from EUR 213 billion or 1.9 percent in 2020.

In financial account, euro area residents’ net acquisitions of non-euro area portfolio investment securities totaled EUR 752 billion and non-residents’ net acquisitions of euro area portfolio investment securities came in at EUR 240 billion in 2021.

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