Eurozone Current Account Surplus Falls In September

The euro area current account surplus declined in September largely due to the fall in primary income, data from the European Central Bank showed Tuesday.

The current account surplus totaled EUR 28 billion in September versus EUR 29 billion in August. In the same period last year, the surplus came in at EUR 21 billion.

The surplus on trade in goods decreased to EUR 27 billion from EUR 28 billion a month ago. Likewise, primary income declined to EUR 4 billion from EUR 7 billion.

Meanwhile, the surplus on services rose to EUR 10 billion from EUR 7 billion in the previous month and the shortfall in secondary income narrowed to EUR 13 billion from EUR 14 billion.

In the 12-month period to September, the current account surplus fell to EUR 321 billion, or 2.7 percent of euro area GDP, from EUR 378 billion, or 3.3 percent of GDP, in the 12-month period to September 2018.

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