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April 19, 2021EURO AREA CURRENT ACCOUNT, FEBRUARY 2021 
Month over month (Feb 2021 vs Jan 2021, seasonally adjusted)
The European Central Bank reported today that the Euro Area (EA19) Current account surplus narrowed by €8.9 billion to €25.9 billion.
Net trade surplus narrowed by €6.5 billion to €43.8 billion.
- Exports of goods and services increased €2.4 billion to €277.2 billion.
- Imports of goods and services increased €8.9 billion to €233.3 billion.
Net Goods surplus narrowed by €5.4 billion to €32.5 billion
- Goods exports increased €2.3 billion to €199.2 billion
- Goods Imports increased €7.8 billion to €166.7 billion
Net Services surplus narrowed by €1.1 billion to €11.4 billion.
Net Primary Income deficit widened by €1.2 billion to €2.1 billion. Net Secondary Income deficit widened by €1.1 billion to €15.8 billion.
CURRENT ACCOUNT AS A SHARE OF GDP (2020Q4 vs 2020Q3)
Euro area's current account seasonally adjusted (as measured as a share of GDP) changed 0.7 percentage points to a 3.0%.
The ratio of the current account balance to the Gross Domestic Product (or % of GDP) provides an indication of the country's trade and income flows relative to the size of the economy.
The ratio is calculated by dividing the net values of exports less imports, primary Income (interest and dividends) and secondary income (transfers) over a period by the gross domestic product for the same period. Although called a ratio, it is usually expressed as a percentage.
A current account surplus indicates upward pressure on the foreign exchange rate unless it is offset by net outflows (leading, acquisition of assets) outside the country the gross domestic product for the same period. Although called a ratio, it is usually expressed as a percentage. A current account surplus indicates upward pressure on the foreign exchange rate unless it is offset by net outflows (leading, acquisition of assets) outside the country.
REFERENCE
European Central Bank. Press Release | Database | Selected Current Account Data
OECD. EU27 AND EA19 CURRENT ACCOUNT AS A % OF GDP seasonally adjusted
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