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Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email:

April 18, 2024

Month over month (February 2024 vs January 2024, seasonally adjusted)

The European Central Bank reported today that the Euro Area

  • Current account surplus decreased by €9.8 billion to €29.5 billion.
  • Goods trade surplus decreased by €14.10 billion to €34.0 billion.
  • Services trade surplus increased by €3.2 billion to €7.2 billion.
  • Primary income deficit narrowed by €0.7 billion to €2.5 billion.
  • Secondary income deficit narrowed by €0.5 billion to €9.2 billion.

Compared with January 2024 Euro Area exports of goods decreased by 1.3% to €246.4 billion in February 2024 while imports of goods increased by 5.4% to €212.4 billion. The increase in goods imports contributed to a narrowing of the Euro Area goods surplus to €34.0 billion.  

Exports of services increased by 3.9% to €116.2 billion while imports of services increased 1.1% to €109.0 billion in February 2024.  The substantial increase in service imports increased the Euro Area services surplus to €7.2 billion.

Primary income receipts for the Euro Area increased by 3.3% to €107.6 billion while payments rose by 2.6% to €110.0 billion in February 2024. Faster growth in receipts than payments narrowed the Euro Area primary income deficit to €2.5 billion.

Secondary income receipts increased by 5.2% to €14.9 billion while secondary income payments increased by 1.1% to €24.2 billion. As the growth in receipts was faster than growth in payments, the Euro Area secondary income deficit narrowed to €9.2 billion in February 2024.

Source: European Central Bank.  Press Releases Selected Current Account Data 

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