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

October 20, 2020
EURO AREA CURRENT ACCOUNT, AUGUST 2020

Month over month (Aug 2020 vs Jul 2020)

The European Central Bank reported today (working day and seasonally adjusted) that the Euro Area (EA19) Current account surplus widened by €3.0 billion to €19.9 billion .

  • Net Goods surplus widened by €1.8 billion to €31.9 billion
    • Goods exports increased €4.2 billion to €184.8 billion 
    • Goods Imports increased €2.4 billion to €152.8 billion
  • Net Services surplus narrowed by €1.7 billion to €2.1 billion
  • Net Primary Income deficit narrowed by €1.9 billion to €3.6 billion
  • Net Secondary Income deficit narrowing by €0.9 billion to €10.6 billion

In Aug 2020,

  • Export Goods & services trade increased €2.3 billion to €248.4 billion
  • Import goods & services trade increased €2.2 billion to €214.3 billion 
  • As a result, Net trade surplus widened by €0.1 billion to €34.1 billion

 

Year over year (Aug 2020 vs Aug 2019)

  • Goods exports decreased €17.4 billion
  • Goods Imports decreased €19.9 billion
  • Export Goods & services trade decreased €38.1 billion
  • Import goods & services trade decreased €34.4 billion

 

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



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