Eurozone Current Account Surplus Narrows Sharply

2026-02-19 09:26 By Joana Ferreira 1 min. read

The euro area’s current account surplus narrowed significantly to €34.6 billion in December 2025, down from €45.9 billion in the same month a year earlier.

The goods surplus declined to €26.2 billion from €29.3 billion in December 2024, with imports surging 6.9% and exports rising at slower 4.6%.

The primary income surplus saw a more pronounced drop, falling to €15.2 billion from €23.6 billion.

Meanwhile, the services surplus also moderated, easing to €9.7 billion from €13.2 billion a year earlier.

Partly offsetting these declines, the secondary income deficit narrowed to €16.5 billion, compared with €20.1 billion in the same month last year.

For 2025 as a whole, the eurozone’s current account surplus shrank markedly to €261.4 billion, down from €412.3 billion in 2024.

On a seasonally and working day-adjusted, the current account surplus dropped to €255 billion, or 1.6% of GDP, compared with a surplus of €407 billion, or 2.7%, in 2024.



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