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

May 21, 2024

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

The European Central Bank reported today that the Euro Area

  • Current account surplus increased by €6.9 billion to €35.8 billion.
  • Goods trade surplus decreased by €0.6 bllion to €33.2 billion.
  • Services trade surplus decreased by €2.4 billion to €4.8 billion.
  • Primary income changed  from a deficit to a surplus of €8.7 billion.
  • Secondary income deficit widened by €1.3 billion to €10.8 billion.

Compared with February 2024 Euro Area exports of goods increased by 1.7% to €250.8 billion in March 2024 while imports of goods increased by 4.7% to €217.6 billion. The increase in goods imports contributed to a narrowing of the Euro Area goods surplus to €33.2 billion.  

Exports of services decreased by 4.9% to €111.2 billion while imports of services decreased 3.3% to €106.5 billion in March 2024.  The substantial decline in service exports decreased the Euro Area services surplus to €4.8 billion.

Primary income receipts for the Euro Area decreased by 5.9% to €102.8 billion while payments declined by 15.4% to €93.7 billion in March 2024. Faster decline in payments than receipts changed the Euro Area primary income deficit to a surplus of €8.7 billion.

Secondary income receipts increased by 1.3% to €14.9 billion while secondary income payments increased by 6.3% to €25.7 billion. As the growth in payments was faster than growth in receipts, the Euro Area secondary income deficit widened to €10.8 billion in March 2024.

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

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