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June 18, 2021EURO AREA CURRENT ACCOUNT, APRIL 2021
Month over month (Apr 2021 vs Mar 2021, seasonally adjusted)
The European Central Bank reported today that the Euro Area (EA19) Current account surplus widened by €5.0 billion to €22.8 billion.
Net trade surplus widened by €3.2 billion to €35.3 billion.
- Exports of goods and services increased €2.0 billion to €280.8 billion.
- Imports of goods and services decreased €1.2 billion to €245.5 billion.
Net Goods surplus widened by €3.2 billion to €27.0 billion.
- Goods exports increased €5.4 billion to €206.9 billion.
- Goods Imports increased €2.2 billion to €179.9 billion.
Net Services surplus was unchanged at €8.3 billion.
Net Primary Income surplus changed from a deficit (€2,088 billion) to a surplus (€602 billion)
Net Secondary Income deficit widened by €0.9 billion to €13.1 billion.
CURRENT ACCOUNT AS A SHARE OF GDP (2021Q1 vs 2020Q4)
Euro area's current account (as measured as a share of GDP) narrowed 0.4 percentage points to 2.7%.
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. EA19 CURRENT ACCOUNT AS A % OF GDP seasonally adjusted
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