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Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email:

September 19, 2023

Month over month (July 2023 vs June 2023, seasonally adjusted)

The European Central Bank reported today that the Euro Area (EA20)

  • Net current account surplus declined by €14.9 billion to €20.9 billion.
  • Net goods trade surplus declined by €15.9 billion to €23.4 billion.
  • Net services trade surplus widened by €3.1 billion to €10.8 billion.
  • Net primary income balance declined by €2.9 billion to a surplus of €0.6 billion.
  • Net secondary income deficit decreased by €0.8 billion to €14.0 billion.

Exports of goods decreased by 9.3% to €232.3 billion and imports of goods declined by 3.6% to €208.9 billion in July 2023 compared with the previous month. With exports decreasing faster than imports, the goods trade surplus declined to €23.4 billion.

Exports of services declined 4.9% to €103.3 billion and imports of services decreased 8.3% to €92.5 billion in July 2023 compared to the previous month. The services trade balance widened to €10.8 billion.

Primary income receipts increased by 5.3% to €94.1 billion and payments grew by 9.0% to €93.4 billion from June to July 2023. The primary income balance declined from a surplus of €3.6 billion in June to a surplus of €0.6 billion in July.  

Since June 2023, secondary income receipts declined by 6.4% to €13.8 billion and secondary income payments decreased by 5.9% to €27.8 billion in July 2023. The secondary income deficit declined to €14.0 billion in July 2023.




European Central Bank.  Press Releases Selected Current Account Data 

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