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Euro Area Current AccountThe Euro Area reported a current account deficit equivalent to 25.4 Billion EUR in March of 2010. The Euro Area refers to a currency union among the European Union member states that have adopted the euro as their sole official currency. The Euro Area has fifteen members, with a further nine states and territories using it as their sole currency. Based on official estimates of 2007 GDP, The Euro Area is the largest or second-largest economy in the world. Its main trading partners are: The United States, China and Russia. This page includes: Euro Area Current Account chart, historical data and news.
| Year | Mar | Jun | Sep | Dec |
| 2010 | -25.4 | | | |
| 2009 | -37.2 | -22.0 | -3.6 | 6.8 |
| 2008 | -17.3 | -31.1 | -34.7 | -34.0 |
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Euro Area Trade Surplus Shrinks in April
Published:
6/15/2010 9:58:49 AM
By:
TradingEconomics.com, Eurostat
The first estimate for the euro area (EA16) trade balance with the rest of the world in April 2010 gave a 1.8 billion euro surplus, compared with +2.6 bn in April 2009.
The March 2010 balance was +4.5 bn, compared with +1.5 bn in March 2009.
In April 2010 compared with March 2010, seasonally adjusted exports fell by 2.4% and imports by 3.5%.
The first estimate for the April 2010 extra-EU27 trade balance was a 10.2 bn euro deficit, compared with -7.8 bn in April 2009. In March 20102 the balance was -7.2 bn, compared with -9.2 bn in March 2009. In April 2010 compared with March 2010, seasonally adjusted exports fell by 2.4% and imports by 2.8%.
The EU27 deficit rose for energy (-66.6 bn euro in January-March 2010 compared with -58.5 bn in January-March 2009), while the surplus for manufactured goods increased (+35.9 bn compared with +21.9 bn).
EU27 exports to all its major partners grew in January-March 2010 compared with January March 2009. The most notable increases were recorded for exports to China (+48%), Brazil (+43%) and Turkey (+41%).
For imports, the largest increases were recorded with Russia (+35%), India (+16%) and Turkey (+14%), and the largest fall with the USA (-12%).
Concerning the total trade of Member States, the largest surplus was observed in Germany (+37.4 bn euro in January-March 2010), followed by the Netherlands (+12.0 bn) and Ireland (+9.4 bn). The United Kingdom (-24.9 bn) registered the largest deficit, followed by France (-14.4 bn), Spain (-12.2 bn), Greece (-7.1 bn) and Italy (-6.9 bn).
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Euro Area Economic News
ECB Leaves Interest Rates on Hold for 16th Month
Published: 9/5/2010 10:22:37 PM
By: TradingEconomics.com
The European Central Bank has left interest rates at 1 percent for the 16th consecutive month as a still-uncertain global outlook clouds optimism about the eurozone's recovery.
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Euro Area Unemployment Rate Remains Stable at 10.0% in July
Published: 9/5/2010 6:16:40 PM
By: TradingEconomics.com, Eurostat
The euro area (EA16) seasonally-adjusted unemployment rate was 10.0% in July 2010, unchanged compared with June. It was 9.6% in July 2009.
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Euro Area Inflation Slows to 1.6%
Published: 9/5/2010 6:07:23 PM
By: TradingEconomics.com, Bloomberg
Euro Area consumer prices rose 1.6 percent from a year earlier after increasing 1.7 percent in July, the European Union statistics office in Luxembourg said.
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Euro Area Inflation Accelerates in July
Published: 8/16/2010 12:13:10 PM
By: TradingEconomics.com, Bloomberg
Euro Area inflation accelerated to 1.7%, the fastest pace in 20 months in July, on rising energy prices.
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Germany Lifts Eurozone GDP Growth 1%
Published: 8/13/2010 10:39:51 AM
By: TradingEconomics.com, FT
Germany on Friday reasserted itself as the economic growth engine of the eurozone, after gross domestic product expanded at a stellar 2.2 per cent rate in the second quarter compared with the previous three months.
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ECB Leaves Rates on Hold
Published: 8/5/2010 10:44:06 AM
By: Financial Times
The European Central Bank left its main interest rate unchanged on Thursday at a record low of 1 per cent for the 15th consecutive month.
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European Inflation Jumps to 20-Month High
Published: 8/2/2010 4:13:04 AM
By: TradingEconomics.com, Bloomberg
European inflation accelerated to the fastest pace in more than 1 1/2 years on rising energy costs.
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Eurozone Inflation Moderates In June
Published: 7/14/2010 2:46:27 PM
By: TradingEconomics.com, RTT News
Eurozone inflation eased in June and remained within the official target range, giving no reason to change monetary policy.
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ECB Keeps Rate at 1%
Published: 7/8/2010 11:19:13 AM
By: TradingEconomics.com, ECB
The European Central Bank left interest rates at a record low as rising market borrowing costs and the sovereign debt crisis threaten to derail the region’s economic recovery.
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ECB Lends Banks Less Than Estimated
Published: 6/30/2010 10:06:09 AM
By: TradingEconomics.com, Reuters
Banks borrowed less than expected from the European Central Bank in a key funding operation on Wednesday, easing fears about their ability to cope with the repayment of close to half a trillion euros in 12-month funds on Thursday.
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Current Account Definition
Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid). The balance of trade is typically the most important part of the current account. This means that changes in the patterns of trade are key drivers in the current accounts of most of the world's economies. However, for the few countries with substantial overseas assets or liabilities, net factor payments may be significant.
Positive net sales to abroad generally contributes to a current account surplus; negative net sales to abroad generally contributes to a current account deficit. Because exports generate positive net sales, and because the trade balance is typically the largest component of the current account, a current account surplus is usually associated with positive net exports.
The net factor income or income account, a sub-account of the current account, is usually presented under the headings income payments as outflows, and income receipts as inflows. Income refers not only to the money received from investments made abroad (note: investments are recorded in the capital account but income from investments is recorded in the current account) but also to the money sent by individuals working abroad, known as remittances, to their families back home. If the income account is negative, the country is paying more than it is taking in interest, dividends, etc. For example, the United States' net income has been declining exponentially since it has allowed the dollar's price relative to other currencies to be determined by the market to a point where income payments and receipts are roughly equal
of trade forms part of the current account, which also includes other transactions such as income from the international investment position as well as international aid. If the current account is in surplus, the country's net international asset position increases correspondingly. Equally, a deficit decreases the net international asset position.
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