The euro area current account surplus declined to a 15-month low in January, the European Central Bank said Wednesday.
The current account surplus fell to EUR 24.1 billion in January from EUR 30.8 billion in December. This was the lowest since October 2015, when the surplus totaled EUR 23.4 billion.
The surplus on goods trade decreased to 24.1 billion from EUR 31.6 billion. Likewise, the surplus on services declined to EUR 3.5 billion from EUR 5.1 billion.
At the same time, secondary income showed a shortfall of EUR 15.5 billion, much bigger than December’s EUR 10.9 billion deficit.
On the other hand, primary income more than doubled to EUR 12.1 billion from EUR 5 billion.
The current account balance, on an unadjusted basis, plunged to EUR 2.5 billion from EUR 46.9 billion in December.
The 12-month cumulated current account for the period ending January 2017 registered a surplus of EUR 357.9 billion or 3.3 percent of euro area GDP.
The combined direct and portfolio investment recorded net acquisitions of assets of EUR 153 billion and net incurrences of liabilities of EUR 120 billion.
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