The Euro Area's current account posted a EUR 10.5 billion deficit in May 2020, compared with a EUR 1.0 billion surplus in the same month last year and missing market expectations of a EUR 14.5 billion surplus. This was the largest deficit for a May month since 2011 as the goods surplus declined sharply to EUR 15.4 billion from EUR 26.5 billion a year ago, while the secondary income gap widened to EUR 12.5 billion from EUR 6.1 billion. Meanwhile, the services surplus increased to EUR 2.6 billion from EUR 1.0 billion, while the primary income deficit shrank to EUR 16.0 billion from EUR 20.3 billion.
Current Account in the Euro Area averaged 7.54 EUR Billion from 1999 until 2020, reaching an all time high of 48.73 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 2020. source: European Central Bank
Current Account in Euro Area is expected to be 24.50 EUR Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Euro Area to stand at 28.00 in 12 months time. In the long-term, the Euro Area Current Account is projected to trend around 28.90 EUR Billion in 2021 and 30.00 EUR Billion in 2022, according to our econometric models.