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For additional information relating to this article, please contact:

Doug McCann Research and Statistics Officer
Tel: 902-424-2141Email: Douglas.McCann@novascotia.ca

February 20, 2018
EURO AREA CURRENT ACCOUNT, DECEMBER and ANNUAL 2017

DECEMBER

 

The European Central Bank reported today, that the euro area (EA19) current account (working day and seasonally adjusted) recorded a surplus of €29.9 billion in December 2017. There was a surplus in net goods trade (+€30.9 billion), net services trade (+€7.3 billion) and net primary income (+€3.7 billion) account that were partially offset by a deficit in net secondary income (-€12.0 billion) account.

In the Euro Area December 2017, Exports of goods and services increased to €271.9 billion, while imports of goods and services increased to €233.6 billion  As growth in exports exceeded growth in imports the net trade surplus incresaed  to €38.2 billion.

 

ANNUAL

In 2017,  the euro area (EA19) current account (working day and seasonally adjusted) accumulated a surplus of €391.4 billion in 2017. There was a surplus in net goods trade (+€348.2 billion), net services trade (+€80.9 billion) and net primary income (+€112.8 billion) account that were partially offset by a deficit in net secondary income (-€150.5 billion) account.

In the Euro Area 2017, Exports of goods and services increased to €3.1 trillion, while imports of goods and services increased to €2.7 trillion. As growth in exports exceeded growth in imports the net trade surplus incresaed to €429.1 billion.

 

Sources: Eurosystem Bank | Press Release  | Database

 

 



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