Data from the European Central Bank showed that in January, the eurozone's current account surplus (seasonally adjusted) decreased to 35.4 billion euros from 38.4 billion euros in December. Economists had expected a drop to 34.0 billion euros. Surpluses were recorded for goods (35 billion euros), services (12 billion euros) and primary income (2 billion euros). These were partly offset by a deficit for secondary income (14 billion euros).
In the 12 months to January 2025, the current account surplus was 408 billion euros (2.7% of eurozone GDP), compared with a surplus of 280 billion euros (1.9% of eurozone GDP) one year earlier. This increase was mainly driven by larger surpluses for goods (up from 296 billion euros to 380 billion euros) and for services (up from 122 billion euros to 163 billion euros). The primary income surplus (33 billion) and the secondary income deficit (168 billion euros) remained broadly unchanged.
In financial account, euro area residents’ net acquisitions of non-euro area portfolio investment securities totalled 677 billion euros and non-residents’ net acquisitions of euro area portfolio investment securities totalled 784 billion euros in the 12 months to January 2025