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October 19, 2023EURO AREA CURRENT ACCOUNT, AUGUST 2023 Month over month (August 2023 vs July 2023, seasonally adjusted)
The European Central Bank reported today that the Euro Area (EA20)
- Current account surplus increased by €6.6 billion to €27.7 billion.
- Goods trade surplus increased by €10.0 billion to €34.8 billion.
- Services trade surplus decreased by €3.5 billion to €6.2 billion.
- Primary income declined by €0.8 billion to a deficit of €0.2 billion.
- Secondary income deficit narrowed by €0.9 billion to €13.3 billion.
Exports and imports
Exports of goods increased by 8.4% to €251.9 billion and imports of goods increased by 4.6% to €217.0 billion in August 2023 compared with the previous month. With exports increasing faster than imports, the goods trade surplus increased to €34.8 billion.
Exports of services increased 2.9% to €105.6 billion and imports of services increased 6.9% to €99.4 billion in August 2023 compared to the previous month. The services trade balance narrowed to €6.2 billion.
Receipts and payments
Primary income receipts increased by 6.0% to €99.7 billion and payments grew by 6.9% to €99.9 billion in August 2023. The primary income balance declined from a surplus of €0.7 billion in July to a defict of €0.2 billion in August.
Secondary income receipts increased by 0.5% to €13.9 billion and secondary income payments decreased by 3.1% to €27.2 billion in August 2023. The secondary income deficit narrowed to €13.3 billion in August 2023.
REFERENCE
European Central Bank. Press Releases | Selected Current Account Data
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