Eurozone Current Account Surplus Narrows in March

The Eurozone’s current account surplus shrank to €24.1 billion in March 2026 from €38 billion a year earlier, mainly due to a sharp decline in the goods surplus to €24.2 billion from €49.8 billion, likely reflecting higher energy costs. Meanwhile, the services surplus widened to €12.1 billion from €7.6 billion, and the primary income balance shifted to a surplus of €5 billion from a deficit of €3.9 billion a year ago. The secondary income shortfall rose to €17.3 billion from €15.5 billion. The seasonally adjusted current account surplus narrowed to €14.9 billion in March from an upwardly revised €25.6 billion in the preceding month.

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.