Friday, December 9, 2022

The current account balance of the Eurozone, in deficit in September

The current account balance of the euro zone had a deficit of €8,000 million in September and €50,000 million in cumulative twelve-month terms (year-on-year), due to the sharp rise in energy prices.

As reported on Tuesday by the European Central Bank (ECB), the euro area had a surplus of €22 billion and €336 billion in September 2021, in cumulative twelve-month terms.

The deficit has fallen in September of this year by 70.4% compared to August (deficit of €27,000 million).

The euro zone had a deficit in secondary income of €12 billion in September (deficit of €14 billion a year ago) and in goods of €11 billion (surplus of €20 billion).

But it had a surplus in primary income of €9 billion (€7 billion a year earlier) and in services of €6 billion (€9 billion a year earlier).

The current account balance measures income and payments abroad for the exchange of merchandise, services, income and transfers.

In the financial account, euro area residents made net sales of foreign portfolio investment securities in September amounting to €167 billion, in twelve-month cumulative terms.

Net sales of euro area securities by non-residents amounted to €22 billion in the same period.

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