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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

May 20, 2020
EURO AREA CURRENT ACCOUNT, MARCH 2020

During the COVID-19 pandemic, comparisons of year-to-date averages and sums do not show Nova Scotia’s rapidly changing economic situation.  The DailyStats will focus on year-over-year comparisons, comparing one month with the same month in the prior year.  Where possible the DailyStats will make comparisons of seasonally adjusted data from the pre-COVID-19 period (January  and February 2020) with the period during which COVID-19 measures were in place from March 2020 onwards.

 

MONTHLY

The European Central Bank reported today that the Euro Area (EA19) current account (working day and seasonally adjusted) recorded a surplus of €27.4  billion  in March 2020. Surpluses of €32.2  billion  in net goods trade, €2.2  billion  in net services trade and €2.4  billion  in net primary income, were partially offset by a deficit of €9.4  billion  in net secondary income accounts.

In March 2020, Euro Area exports of goods and services decreased -€31.3  billion  to €257.4  billion  and Imports of goods and services decreased -€29.3  billion  to €223.1  billion. The net trade surplus declined -€1.9 billion to €34.3  billion. 

 

 

Sources: European Central Bank:  Press Release | Database | Selected BOP Data | Competitiveness indicator 



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