2018.11.1904:25:00UTC+00Eurozone Current Account Surplus Decreases In September

Eurozone's current account surplus decreased in September, figures from the European Central Bank showed on Monday.

The current account surplus fell to EUR 17 billion from EUR 24 billion in August. In the same month last year, the surplus was EUR 40 billion.

The goods trade surplus decreased to EUR 16 billion from EUR 22 billion and the services trade surplus was steady at EUR 9 billion.

The primary income surplus decreased to EUR 5 billion from EUR 7 billion in the previous month. The secondary income deficit was steady at EUR 13 billion.

In the 12-month period to September, the current account surplus was EUR 357 billion or 3.1 percent of euro area GDP versus EUR 339 billion of 3.1 percent of euro area GDP in the 12-month period to September 2017.

This increase was due mainly to a higher surplus for services, which increased from EUR 77 billion to EUR 117 billion, and a lower deficit for secondary income, which decreased from EUR 149 billion to EUR 142 billion.

These were partly offset by declines in the surpluses for goods, from EUR 328 billion to EUR 310 billion, and primary income from EUR 83 billion to EUR 71 billion.

The financial account balance grew to EUR 435 billion from EUR 371 billion a year ago.

In direct investment, euro area residents recorded net investments in non-euro area assets of EUR 18 billion, a sharp decrease from net investments of EUR 329 billion in the previous 12-month period. Non-residents recorded net disinvestments of euro area assets of EUR 132 billion, after net investments of EUR 220 billion last year.

In portfolio investment, net acquisitions of foreign debt securities by euro area residents decreased to EUR 222 billion in the 12 months to September, from EUR 397 billion, and net purchases of foreign equity decreased to EUR 102 billion from EUR 174 billion.

Non-residents reduced their net purchases of euro area equity to EUR 241 billion from EUR 399 billion, while their net sales of euro area debt securities increased to EUR 144 billion from EUR 133 billion in the previous period.