PRESS RELEASE 20 March 2020 - Euro area monthly balance of payments: January 2020
In January 2020 the current account of the euro area recorded a surplus of €35 billion, compared with a surplus of €33 billion in December 2019.
In the 12-month period to January 2020, the current account recorded a surplus of €364 billion (3.1% of euro area GDP), compared with a surplus of €359 billion (also 3.1% of euro area GDP) in the 12 months to January 2019.
In the financial account, euro area residents made net acquisitions of foreign portfolio investment securities totalling €393 billion in the 12-month period to January 2020 (up from €138 billion in the 12 months to January 2019). Over the same period, non-residents made net acquisitions of euro area portfolio investment securities amounting to €419 billion (in comparison with net sales of €45 billion).
The current account of the euro area recorded a surplus of €35 billion in January 2020, increasing by €2 billion from the previous month (see Chart 1 and Table 1). Surpluses were recorded for goods (€27 billion), primary income (€14 billion) and services (€10 billion). These were partly offset by a deficit for secondary income (€17 billion).
In the 12 months to January 2020, the current account recorded a surplus of €364 billion (3.1% of euro area GDP), compared with a surplus of €359 billion (also 3.1% of euro area GDP) in the 12 months to January 2019. This increase reflected a larger surplus for goods (up from €295 billion to €340 billion), which was largely offset by reductions in the surpluses for primary income (down from €106 billion to €84 billion) and services (down from €113 billion to €95 billion). The deficit for secondary income remained stable at €155 billion.
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