Latest News Stream - Current Account

Spain’s current account surplus narrowed to €5.1 billion in August 2026 from €5.7 billion in the same month a year ago. The goods and services account registered a surplus of €6.1 billion, smaller than €6.8 billion in August 2025. The decline came despite tourism revenues rising to €14.2 billion from €13 billion. At the same time, the primary and secondary income deficit fell slightly to €1 billion from €1.2 billion. Considering the January to August period of 2026, the country's current account surplus narrowed to €45.9 billion from €53.1 billion in the same period a year earlier.

Brazil’s current account deficit shrank to $5.1 billion in September 2026 from $8.8 billion a year earlier and compared with market forecasts of $5 billion. The trade surplus jumped to $6.9 billion from $2.5 billion in September 2025, as exports surged by 12.9% yoy to $34.6 billion, while imports fell 1.7% to $27.7 billion. As a net oil exporter, Brazil likely benefited from higher oil prices. Meanwhile, the services account deficit widened to $5.2 billion from $4.8 billion a year ago, driven by higher transportation, equipment rental and intellectual property expenses. The primary income deficit increased slightly to $7.2 billion from $6.9 billion, as a 13.9% increase in net profit and dividend expenses outweighed a 12.2% decline in net interest expenses. The secondary income surplus went up to $0.48 billion from $0.39 billion. Over the 12 months to September, the country posted a current account shortfall of $49.3 billion, down from $56.7 billion in the same period a year ago.

Tourist arrivals in Slovenia rose by 11.4% year-on-year to 821.8 thousand in September 2026, the highest September level on record, following a 6.0% rise in the previous month. Foreign tourist arrivals increased by 12.8% to 682.8 thousand, with visitors mainly coming from the UK (39.5%), the US (27.5%), the Czech Republic (26.5%), Germany (12.8%), and Austria (9.5%). Meanwhile, domestic tourism grew by 4.7% to 139.0 thousand. Overnight stays went up by 12.4% to 1,994.2 thousand, with most tourists staying in mountain municipalities (22.6%), other municipalities (10.1%), urban municipalities (8.5%), and the capital (7.7%). For the January–September period, tourist arrivals increased by 7.1% year-on-year to 6,212.3 thousand, while overnight stays also rose by 7.1% to 16,072.6 thousand.

Greece’s current account surplus widened to EUR 1.743 billion in August 2026 from EUR 1.210 billion in the same month last year, marking the largest surplus since August 2015. The services account surplus increased to EUR 4.552 billion from EUR 4.498 billion, driven largely by higher revenues in travel, transport, and other services. Moreover, the primary income deficit narrowed sharply to EUR 0.021 billion from EUR 0.773 billion a year earlier. On the other hand, the goods account shortfall expanded to EUR 2.342 billion from EUR 2.199 billion, as imports (EUR 6.507 billion) outpaced exports (EUR 4.164 billion). The secondary income deficit also rose to EUR 0.447 billion from EUR 0.316 billion.

Bulgaria's current account recorded a deficit of EUR 96 million in August 2026, shifting from a surplus of EUR 245.6 million in the same month a year earlier. The deterioration was driven by a wider goods shortfall, which increased to EUR 535.3 million from EUR 463.4 million, while the services surplus narrowed to EUR 970.5 million from EUR 1,107.7 million. At the same time, the primary income gap widened to EUR 688.6 million from EUR 464.2 million. In contrast, the secondary income surplus increased to EUR 157.4 million from EUR 65.5 million. Meanwhile, the combined goods and services balance remained in surplus at EUR 435.2 million, down from EUR 644.3 million a year earlier. In January-August 2026, the current account recorded a deficit of EUR 5,552.4 million, compared with a deficit of EUR 2,225.1 million in the corresponding period of 2025. Over the twelve months ending August 2026, the deficit widened to EUR 10,379.4 million from EUR 4,036.5 million a year earlier.

Italy’s current account surplus widened to EUR 2,766 million in August 2026 from EUR 2,312 million in the corresponding month a year earlier. The goods surplus increased to EUR 2,280 million from EUR 2,139 million in August 2025, while the primary income surplus rose to EUR 1,798 million from EUR 1,308 million. Meanwhile, the services surplus decreased to EUR 633 million from EUR 735 million, while the secondary income deficit widened to EUR 1,946 million from EUR 1,869 million. The increase in the overall surplus reflected a stronger balance in goods and primary income, despite the wider secondary income deficit.

The eurozone current account surplus fell sharply to €7.7 billion in August 2026, down from €18.1 billion a year earlier. The goods surplus declined to €10.5 billion, its lowest level since April 2023, while the primary income account swung to a €2.3 billion deficit from a €2.6 billion surplus. The secondary income deficit also widened to €17.0 billion from €15.1 billion. Meanwhile, the services surplus increased to €16.5 billion from €14.6 billion in August 2025. For the first eight months of 2026, the cumulative current account surplus narrowed to €130.2 billion, down from €148.2 billion over the same period last year.

Slovakia’s current account deficit widened to EUR 845 million in August 2026 from EUR 537 million a year earlier. The goods trade deficit increased to EUR 357 million from EUR 188.9 million, while the primary income deficit rose to EUR 392.4 million from EUR 258.1 million. Meanwhile, the secondary income deficit widened to EUR 139 million from EUR 120.8 million. In contrast, the services surplus increased to EUR 43.6 million from EUR 30.8 million in August 2025. Considering the first eight months of the year, Slovakia’s current account deficit totaled EUR 3,285.9 million.

Serbia’s current account deficit narrowed to $263 million in August 2026 from $343 million in the same month a year earlier. The goods deficit widened to $636 million from $615 million, while the primary income deficit edged down to $385 million from $392 million. On the other hand, the services surplus expanded to $78 million from $59 million, and the secondary income surplus rose to $681 million from $604 million. Over the first eight months of 2026, Serbia posted a current account deficit of $2,430 million, smaller than the $2,738 million recorded in the corresponding period of the previous year.

Romania’s current account deficit widened to EUR 3.32 billion in August 2026 from EUR 2.99 billion in the same month a year earlier, setting a new record after reaching a previous record high in July. The goods account deficit widened to EUR 3.10 billion from EUR 2.61 billion, while the primary income shortfall edged up to EUR 1.69 billion from EUR 1.60 billion. Meanwhile, the services account surplus increased to EUR 0.99 billion from EUR 0.80 billion, while the secondary income account recorded a surplus of EUR 0.03 billion, reversing a deficit of EUR 0.03 billion a year earlier. For the January–August period, the current account deficit totaled EUR 19.93 billion, up from EUR 18.98 billion in the same period last year.

Poland recorded a current account deficit of €3,567 million in August 2026, the largest on record, widening sharply from a revised €2,661 million in the same month a year earlier. The goods trade deficit expanded to €3,047 million, its highest level in more than four years, as imports rose 15.4%, outpacing the 13.2% increase in exports. The primary income deficit widened to €3,780 million from €3,614 million, largely reflecting outflows to foreign direct investors on their investments in Polish entities, alongside income payments on portfolio and other investments. Meanwhile, the services surplus narrowed to €3,003 million from €3,304 million. In contrast, the secondary income account swung to a surplus of €257 million, compared with a deficit of €193 million a year earlier.

Latvia recorded a current account deficit of EUR 107 million in August 2026, narrowing from a deficit of EUR 118 million in the corresponding month of the previous year, marking the smallest current account gap since February. The primary income balance improved, shifting to a surplus of EUR 25 million from a deficit of EUR 57 million in August 2025, while the secondary income surplus also increased to EUR 77 million from EUR 31 million. Meanwhile, the goods account deficit widened to EUR 410 million from EUR 298 million, while the services account surplus decreased slightly to EUR 201 million from EUR 207 million a year earlier.

The Czech Republic’s current account deficit widened to CZK 17.2 billion in August 2026 from CZK 8.8 billion in August 2025, marking the fourth consecutive month of deficit after five straight months of surplus. The secondary income account deficit increased to CZK 11.1 billion from CZK 6.4 billion. Meanwhile, the goods surplus narrowed to CZK 10.7 billion from CZK 14.3 billion, while the services surplus fell to CZK 8.7 billion from CZK 10.8 billion. At the same time, the primary income account deficit eased to CZK 25.4 billion from CZK 27.6 billion.

Lithuania’s current account recorded a surplus of €456.9 million in August 2026, widening from €261.1 million in the same month last year. This marked the largest current account surplus since September 2024, driven by a wider services surplus and a narrower goods deficit. The goods deficit fell to €323.7 million from €407.2 million a year ago, while the services surplus expanded to €967.1 million from €847.6 million. Partially offsetting these improvements, the primary income deficit increased slightly to €251.1 million from €244.8 million, while secondary income surplus also edged down to €64.6 million from €65.5 million.

Germany’s current account surplus edged down to €10.3 billion in August 2026 from a revised €10.9 billion in the same month last year, as wider deficits in services and secondary income outweighed improvements in the goods and primary income balances. The services deficit widened to €11.5 billion from €9.9 billion, while the secondary income deficit increased to €6.8 billion from €6.0 billion. Meanwhile, the goods surplus rose to €13.1 billion from €12.4 billion a year earlier. Exports increased by 7.1% year-on-year to €106.2 billion, while imports grew by 7.4% to €93.2 billion. The primary income surplus also expanded to €15.6 billion from €14.4 billion. Despite the slight year-on-year decline in August, Germany’s cumulative current account surplus for the first eight months of 2026 increased to €140.4 billion, up from €133.7 billion in the corresponding period of 2025.

Turkey’s current account surplus narrowed to $4.05 billion in August 2026 from $4.62 billion a year earlier. The goods trade deficit widened to $3.75 billion from $2.80 billion, as imports ($27.07 billion) exceeded exports ($23.33 billion). Meanwhile, the services surplus increased to $9.71 billion from $9.34 billion. The primary income deficit edged down to $1.89 billion from $1.90 billion, while the secondary income deficit slightly fell to $18 million from $21 million. In the first eight months of 2026, Turkey’s current account deficit widened to $31.50 billion from $19.67 billion in the corresponding period a year earlier.

Finland’s current account swung to a EUR 890 million deficit in August 2026 from a EUR 319 million surplus in the corresponding month of the previous year. The deterioration was mainly driven by a shift in the primary income balance to a EUR 566 million deficit from a EUR 447 million surplus, while the secondary income deficit widened to EUR 174 million from EUR 124 million. The goods trade surplus narrowed to EUR 143 million from EUR 168 million a year earlier, as goods exports rose 24% year-on-year to EUR 7.2 billion, while imports increased at a faster 26% to EUR 7.1 billion. Meanwhile, the services deficit narrowed to EUR 292 million from EUR 171 million. The 12-month moving average of the current account remained in deficit by EUR 700 million. Separately, net capital flows from Finland to abroad reached EUR 5.8 billion, largely reflecting outflows of EUR 4.9 billion in other investments.

Denmark’s seasonally adjusted current account surplus narrowed to DKK 34.5 billion in August 2026, following a downwardly revised record high of DKK 43.3 billion in the previous month. The goods account surplus decreased to DKK 21.4 billion from DKK 31.9 billion, weighed down by a 6.2% decline in exports while imports increased by 3.8%. Additionally, the primary income surplus moderated to DKK 6.3 billion from DKK 7.3 billion in July, while the secondary income deficit widened to DKK 3.1 billion from DKK 2.9 billion. Meanwhile, the services account surplus expanded to DKK 9.9 billion from DKK 7.1 billion. From January to August 2026, the current account surplus totaled DKK 242.3 billion, compared with DKK 233.5 billion in the same period a year earlier.

Japan’s current account surplus rose to JPY 4,062.0 billion in August 2026 from JPY 3,628.1 billion in the same month a year earlier, surpassing market expectations for a JPY 3,194 billion surplus. Primary income surplus increased to JPY 5,133.2 billion from JPY 4,222.7 billion a year earlier, while the services deficit narrowed to JPY 115.8 billion from JPY 266.7 billion and the secondary income deficit shrank to JPY 267.7 billion from JPY 441.7 billion. Meanwhile, the goods account shifted to a deficit of JPY 687.7 billion from a surplus of JPY 113.8 billion, as exports rose 16.9%, largely supported by strong demand for AI-related electronics, but imports grew faster at 26.7%, driven partly by higher crude oil purchases. In the first half of 2026, Japan's trade surplus widened to JPY 17.43 trillion from JPY 14.23 trillion in the same period a year earlier.