Eurozone: current account surplus increases
Euro banknotes (icon image). © MarioGuti / iStock / Getty Images Plus / Getyy Images
FRANKFURT (dpa-AFX) – The surplus in the eurozone’s current account rose in September. The European Central Bank (ECB) announced on Friday in Frankfurt that the surplus has increased to 18.7 billion euros. In addition, the previous month’s value was revised upwards from 13.4 billion euros to 17.1 billion euros.
The most recent increase was mainly due to the surplus in the services account, after there had been a deficit here in the previous month. By contrast, the surplus in the trade balance decreased. Income balances developed inconsistently.
The current account represents the economic exchange between the Eurozone and other countries. It shows the trade in goods and services as well as income transfers. The latter result, for example, from remittances from guest workers. The eurozone usually has a large surplus in its current account. As a result of the Corona crisis, stronger fluctuations occurred, especially in the trade balance./jsl/bgf/mis
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