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

January 18, 2024
EURO AREA CURRENT ACCOUNT, NOVEMBER 2023

Month over month (November 2023 vs October 2023, seasonally adjusted)

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

• Current account surplus decreased by €7.7 billion to €24.6 billion.
• Goods trade surplus increased by €3.8 billion to €33.0 billion.
• Services trade surplus increased by €1.2 billion to €20.5 billion.
• Primary income deficit declined by €13.5 billion to €15.9 billion.
• Secondary income deficit shrunk by €0.8 billion to €13.0 billion.

 

Exports and imports

Exports of goods grew by 1.5% to €247.6 billion and imports of goods declined slightly by 0.04% to €214.6 billion in November 2023 compared with the previous month. With imports declining and exports rising, the goods trade surplus increased to €33.0 billion.

Exports of services grew by 4.9% to €113.4 billion and imports of services increased 4.7% to €92.9 billion in November 2023 compared to the previous month. The services trade balance widened to €20.5 billion.

 

Receipts and payments

Primary income receipts decreased by 5.8% to €100.2 billion and payments grew by 6.8% to €116.1 billion in November 2023. The primary income deficit grew to €15.9 billion in November.  

Secondary income receipts decreased by 0.2% to €13.6 billion and secondary income payments declined by 2.8% to €26.6 billion. The secondary income deficit shrunk to €13.0 billion in November 2023.

 

 

REFERENCE

European Central Bank.  Press Releases | Selected Current Account Data 

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