Eurozone Current Account Surplus Falls

(RTTNews) - The euro area current account surplus declined in February, data from the European Central Bank showed on Wednesday.

The current account surplus fell to EUR 34 billion in February from EUR 40 billion in January. In the same period last year, the surplus was EUR 33 billion.

The surplus on goods trade decreased to EUR 34 billion from EUR 42 billion in the prior month, while the surplus on services trade rose to EUR 14 billion from EUR 12 billion.

Primary income showed a shortfall of EUR 3 billion after credit and debit in primary income balanced last month. The deficit on secondary income narrowed to EUR 10 billion from EUR 14 billion.

In twelve months to February, the current account surplus totalled EUR 411 billion or 2.7 percent of GDP. This was up from EUR 299 billion or 2.0 percent of GDP a year earlier.

In financial account, euro area residents' net acquisitions of non-euro area portfolio investment securities totaled EUR 738 billion and non-residents' net acquisitions of euro area portfolio investment securities came in at EUR 800 billion in the twelve months to February.