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Eurozone current account surplus rises in January

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Eurozone current account surplus rises in January

The euro area's current account surplus rose to €37.6 billion in January 2018 from a revised €31.0 billion in December 2017 as primary income and services surplus increased from the previous month.

Services surplus climbed to €9.6 billion from €7.4 billion, but goods surplus declined to €27.1 billion in January from €31.1 billion in the previous month, according to data from the European Central Bank.

Primary income surplus jumped to €10.7 billion from €4.3 billion. The deficit for secondary income narrowed to €9.8 billion from €11.9 billion.

For the 12 months ended January 2018, current account surplus stood at €406.1 billion, or 3.6% of euro area GDP, up from €356.5 billion, or 3.3% of GDP, in the 12 months ended January 2017. Increases in the surpluses for services and primary income contributed to the year-over-year increase. These increases were partly offset by an increase in secondary income deficit and a decline in goods surplus.