Eurozone Current Account Surplus At 3-Month Low

(RTTNews) - The euro area current account surplus fell to a three-month low in November, the European Central Bank said Friday.

The current account surplus decreased to EUR 27 billion from EUR 30 billion in October. This was the lowest since August, when the surplus was EUR 23.5 billion.

The surplus on goods trade increased to EUR 35 billion from EUR 32 billion. Meanwhile, the surplus on services trade decreased to EUR 12 billion from EUR 16 billion.

Primary income posted a shortfall of EUR 6 billion, bigger than the EUR 2 billion deficit last month. The deficit on secondary income narrowed to EUR 14 billion from EUR 15 billion.

In the twelve months to November, the current account surplus totaled EUR 412 billion or 2.7 percent of GDP, up from EUR 225 billion or 1.5 percent in the same period last year.

In the financial account, euro area residents' net acquisitions of non-euro area portfolio investment securities was EUR 620 billion and non-residents' net acquisitions of euro area portfolio investment securities came in at EUR 852 billion in the twelve months to November.