Eurozone Current Account Surplus Rises in February

The Eurozone’s current account surplus widened to €21.1 billion in February 2026 from €18.1 billion in the same month last year, driven by a stronger services surplus, which rose to €8.6 billion from €4.7 billion, and a shift in the primary income to balance from a previous deficit of €7.7 billion. However, the goods surplus narrowed to €29.1 billion from €36.4 billion, while the secondary income deficit increased to €16.6 billion from €15.4 billion. On a seasonally adjusted basis, the current account surplus fell to €25 billion in February, down sharply from an upwardly revised €40.4 billion in January.

The Eurozone’s current account surplus widened to €12.98 billion in January 2026, a significant increase from a revised €3.09 billion in the same month last year, driven by a stronger services surplus, which rose to €10.17 billion from €5.41 billion, and a shift in the primary income balance to a surplus of €4.26 billion from a previous deficit of €4.69 billion. However, the goods surplus narrowed to €15.24 billion from €18.78 billion, while the secondary income deficit remained largely stable at €16.68 billion (vs. €16.41 billion a year earlier). On a seasonally adjusted basis, the current account surplus surged to €37.89 billion in January, up sharply from a revised €13.30 billion in December 2025.

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.