Eurozone Current Account Surplus Declines In December
BRUSSELS (dpa-AFX) - The euro area current account surplus declined in December, the European Central Bank said Friday.
The current account surplus fell to a seasonally adjusted EUR 31 billion in December from EUR 36.4 billion in November.
The surplus on trade in goods rose to EUR 31.7 billion from EUR 30.8 billion in the prior month. Meanwhile, the surplus on trade in services fell to EUR 4.6 billion from EUR 5.3 billion.
Primary income more than halved to EUR 5.3 billion from EUR 12.2 billion in November. At the same time, the deficit on secondary income narrowed to EUR 10.6 billion from EUR 11.9 billion.
On an unadjusted basis, the current account balance showed a EUR 47 billion surplus compared to EUR 40.8 billion surplus in November.
In December, combined direct and portfolio investment recorded net acquisitions of assets of EUR 22 billion and net decreases of liabilities of EUR 101 billion.
According to the preliminary results for 2016 as a whole, the current account registered a surplus of EUR 364.7 billion, equivalent to 3.4 percent of euro area GDP, compared with EUR 319.3 billion or 3.1 percent of GDP in 2015.
Copyright RTT News/dpa-AFX