Eurozone current account surplus rose in September

Noam Stiekema

The Eurozone current account surplus rose in September,according to the official data from the European Central Bank (ECB). The account rose to 30 billion EUR seasonally on adjusted monthly basis in September from a revised 22.88 billion EUR in August. The average market expectations were for 21.3 billion EUR of the account surplus. Seasonally adjusted […]

EUR

EURThe Eurozone current account surplus rose in September,according to the official data from the European Central Bank (ECB). The account rose to 30 billion EUR seasonally on adjusted monthly basis in September from a revised 22.88 billion EUR in August. The average market expectations were for 21.3 billion EUR of the account surplus. Seasonally adjusted basis surplus increased to 31 billion EUR compared to the 17.4 billion EUR for the previous month.

Since the outbreak of the global financial crisis since the balance of the current account of the Eurozone moves from roughly balanced to clean excess. The indicator for the current account surplus is key to investor confidence and trading partners of the Eurozone in the long term. It measures the balance of trade including net exports of goods and services, net income from abroad and net current transfers. A positive value indicates that an economy is a net creditor to the rest of the world, while the negative value or deficit shows that the subject is a net borrower of the world.

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