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.

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Euro Area Current Account

Actual Previous Highest Lowest Dates Unit Frequency
-10.52 9.87 48.73 -33.54 1999 - 2020 EUR Billion Monthly
Current Prices, NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-04-20 08:00 AM Feb €33.8B €10.5B €18.4B
2020-05-20 08:00 AM Mar €40.7B €33.8B €27.1B
2020-06-19 08:00 AM Apr €10.2B €40.7B €26.8B €22.2B
2020-07-20 08:00 AM May €-10.5B €9.9B €14.5B €12.1B
2020-08-19 08:00 AM Jun €-10.5B € 27.5B
2020-09-18 08:00 AM Jul €29B
2020-10-20 08:00 AM Aug €26.8B
2020-11-19 09:00 AM Sep €24.5B


News Stream
Eurozone Current Account Swings to Deficit in May
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.
2020-07-20
Eurozone Current Account Surplus Below Expectations
The Eurozone current account surplus narrowed to EUR 10.21 billion in April of 2020 from EUR 13.26 billion in the corresponding month of the previous year, below market expectations of a EUR 26.8 billion surplus. The goods surplus fell to EUR 12.64 billion from EUR 23.09 billion and the secondary income gap widened to EUR 10.73 billion from EUR 10.57 billion. On the other hand, the services account posted a EUR 1.20 billion, compared to a EUR 0.4 billion gap a year earlier and the primary income surplus rose to EUR 7.1 billion from EUR 1.18 billion.
2020-06-19
Eurozone Current Account Surplus Widens in March
The Eurozone current account surplus widened to EUR 40.66 billion in March 2020 from EUR 38.1 billion in the same month last year, as the goods surplus increased to EUR 39.68 billion from EUR 31.30 billion and the secondary income deficit dropped to EUR 10.34 billion from EUR 13.69 billion. Meanwhile, the service surplus narrowed to EUR 3.25 billion from EUR 9.20 billion a year ago and the primary income surplus declined to EUR 8.07 billion from EUR 11.30 billion. Considering the first quarter of the year, the current account surplus widened to EUR 83.05 billion from EUR 67.94 billion in the same period of 2019.
2020-05-20
Eurozone Current Account Surplus Widens Sharply in February
The Eurozone current account surplus widened sharply to EUR 33.8 billion in February 2020 from EUR 19.4 billion in the same month of the previous year. The goods surplus increased to EUR 32.6 billion from EUR 25.9 billion a year earlier and the primary income surplus rose to EUR 10.9 billion from EUR 10.1 billion, while the secondary income deficit narrowed to EUR 14.1 billion from EUR 24.2 billion. Meanwhile, the services surplus declined to EUR 4.5 billion from EUR 7.6 billion.
2020-04-20

Euro Area Current Account
Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).