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

September 18, 2020
EURO AREA CURRENT ACCOUNT, JULY 2020

The European Central Bank reported today (working day and seasonally adjusted) that the Euro Area (EA19) current account surplus narrowed by €4.1 billion to €16.6 billion in July 2020, compared with June 2020. This included:

  • a surplus of €29.6 billion in goods trade, up from €25.2 billion in June. 
  • a surplus of €4.6 billion in services trade, up from €4.2 billion in June. 
  • a deficit of €6.1 billion in primary income, down from a surplus of €1.5 billion in June. 
  • a deficit of €11.5 billion in secondary income, up from €10.3 billion in June. 

Comparing July 2020 with June 2020, Euro Area exports of goods and services increased €10.8 billion to €248.4 billion. Imports of goods and services increased €6.0 billion to €214.2 billion. The net goods and trade surplus widened by €4.7 billion to €34.2 billion.

Sources: European Central Bank:  Press Release | Database | Selected Current Account Data | Current Account Share of GDP 



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