Euro Area Current Account

The Euro Area reported a current account surplus equivalent to 7543 Million EUR in March of 2012. Historically, from 1999 until 2012, Euro Area Current Account averaged -1338.4700 Million EUR reaching an all time high of 21640.0000 Million EUR in December of 2011 and a record low of -27801.0000 Million EUR in January of 2008. 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). This page includes a chart with historical data for Euro Area Current Account.

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Current Account
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.

EURO AREA NEWS

Euro Area External Trade Surplus Widens in March
Published: 5/16/2012 2:52:37 PM By: TradingEconomics.com, Eurostat
The first estimate for the euro area (EA17) trade in goods balance with the rest of the world in March 2012 gave a 8.6 bn euro surplus, compared with +1.0 bn in March 2011. The February 2012 balance was +2.3 bn, compared with -2.9 bn in February 2011. In March 2012 compared with February 2012, seasonally adjusted exports fell by 0.9% and imports by 1.1%.

Euro Area Annual Inflation Down to 2.6%
Published: 5/16/2012 2:50:32 PM By: TradingEconomics.com, Eurostat
Euro Area annual inflation was 2.6% in April 2012, down from 2.7% in March. A year earlier the rate was 2.8%. Monthly inflation was 0.5% in April 2012.

Euro Area unemployment rate at 10.9%
Published: 5/3/2012 6:38:28 PM By: TradingEconomics.com, Eurostat
The euro area (EA17) seasonally-adjusted unemployment rate was 10.9% in March 2012, compared with 10.8% in February. It was 9.9% in March 2011. The EU27 unemployment rate was 10.2% in March 2012, stable compared with February. It was 9.4% in March 2011.

ECB Keeps Monetary Policy Unchanged
Published: 5/3/2012 1:59:37 PM By: TradingEconomics.com, ECB
At the meeting on May 3rd, the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 1.00%, 1.75% and 0.25% respectively.

Euro Area Reports Trade Surplus in February
Published: 4/18/2012 12:14:10 PM By: TradingEconomics.com, Eurostat
The first estimate for the euro area1 (EA17) trade in goods balance with the rest of the world in February 2012 gave a 2.8 bn euro surplus, compared with -2.8 bn in February 2011. The January 20122 balance was -7.9 bn, compared with -16.1 bn in January 2011.

Euro Area Annual Inflation Stable at 2.7%
Published: 4/18/2012 11:41:55 AM By: TradingEconomics.com, Eurostat
Euro Area annual inflation was 2.7% in March 2012, unchanged compared with February. A year earlier the rate was 2.7%. Monthly inflation was 1.3% in March 2012.

ECB leaves Interest Rates Unchanged
Published: 4/4/2012 3:02:21 PM By: TradingEconomics.com, ECB
The European Central Bank left interest rates unchanged as policy makers balance the threat of inflation in Germany against the need to fight the sovereign debt crisis.

Euro Area Unemployment Rate at 10.8%
Published: 4/2/2012 11:14:35 AM By: TradingEconomics.com, Eurostat
The euro area (EA17) seasonally-adjusted unemployment rate was 10.8% in February 2012, compared with 10.7% in January. It was 10.0% in February 2011.

Euro Area Reports Trade Deficit in January
Published: 3/16/2012 5:31:44 PM By: TradingEconomics.com, Eurostat
The first estimate for the euro area (EA17) trade in goods balance with the rest of the world in January 2012 gave a 7.6 bn euro deficit, compared with -16.1 bn in January 2011.

Euro Area Annual Inflation Stable at 2.7%
Published: 3/14/2012 3:52:19 PM By: TradingEconomics.com, Eurostat
Euro area annual inflation was 2.7% in February 2012, unchanged compared with January. A year earlier the rate was 2.4%. Monthly inflation was 0.5% in February 2012.

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