Euro Area Current Account

Euro Area recorded a Current Account surplus of 13.87 EUR Billion in February of 2014. Current Account In the Euro Area is reported by the European Central Bank. Current Account in the Euro Area averaged 1.41 EUR Billion from 1997 until 2014, reaching an all time high of 32.91 EUR Billion in December of 2013 and a record low of -26.95 EUR Billion 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 provides - Euro Area Current Account - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-24

Actual Previous Highest Lowest Forecast Dates Unit Frequency
13.87 6.99 32.91 -26.95 9016.65 | 2014/03 1997 - 2014 EUR Billion Monthly


Euro Area Current Account

CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2014-01-23 09:00 AM Euro Area
Current Account
Nov 2013 € 27.4B € 26.6B (R) € 19.2B € 26.6B
2014-02-18 09:00 AM Euro Area
Current Account
Dec 2013 € 33.25B € 27.2B (R) € 20.0B € 28.3B
2014-03-21 09:00 AM Euro Area
Current Account
Jan 2014 € 6.4B € 28.2B (R) € 7.6B
2014-04-16 09:00 AM Euro Area
Current Account
Feb 2014 € 13.9B € 7.0B (R) € 21.2B
2014-05-21 09:00 AM Euro Area
Current Account
Mar 2014 € 13.9B € 9016.6B
2014-06-20 09:00 AM Euro Area
Current Account
Apr 2014 € 6232.4B

Trade Last Previous Highest Lowest Forecast Unit
Current Account to GDP 1.50 2012-12-31 0.20 1.50 -1.50 1.96 2013-12-31 Percent [+]
Current Account 13.87 2014-02-15 6.99 32.91 -26.95 9016.65 2014-03-31 EUR Billion [+]
Capital Flows -9.50 2014-02-15 -3.71 38.51 -38.59 -13.65 2014-03-31 EUR Billion [+]
External Debt 11625571.00 2013-12-31 11964387.19 12096481.11 5501622.07 12035655.62 2013-12-31 EUR Million [+]
Gold Reserves 502.07 2013-12-31 502.07 766.88 501.45 Tonnes [+]
Balance of Trade 13604.20 2014-02-15 800.00 21329.00 -16570.20 11122.53 2014-03-31 EUR Million [+]
Imports 139730.20 2014-02-15 147200.00 161000.70 55101.20 146643.86 2014-03-31 EUR Million [+]
Exports 153334.40 2014-02-15 148100.00 172619.60 52826.80 168371.49 2014-03-31 EUR Million [+]

Current Account | Notes
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. And a current account surplus is usually associated with trade surplus. However, for the few countries with substantial overseas assets or liabilities, net factor payments may be significant. Positive net sales to abroad generally contribute to a current account surplus as the value interest or dividends generated abroad is bigger than the value of interest or dividends generated from foreign capital in the country. Net transfer payments are very important part of the current account in poor and developing countries as workers' remittances, donations, aids and grants and official assistance may balance high trade deficits.


Euro Area Inflation Rate Confirmed at 0.5% in March  
Euro area annual inflation was 0.5 percent in March of 2014, matching initial estimates and slowing from 0.7 percent in February. On a monthly basis, prices increased 0.9 percent, up from 0.3 percent in the previous month.
Euro Area Trade Surplus Widens in February On Rising Exports  
The first estimate for the Euro Area trade in goods balance with the rest of the world in February of 2014 gave a € 13.6 billion surplus, compared with € +9.8 bn in February of 2013. The January 2014 balance was € +0.8 bn.
Euro Area Industrial Production Up 1.7% YoY  
In February of 2014, Euro Area industrial output advanced 1.7 percent on a yearly basis, slightly up from a revised 1.6 percent growth rate in January. On a monthly basis, industrial production rose 0.2 percent, rebounding from a revised flat growth in the previous month.
ECB Holds Rates Steady  
At its April 3rd meeting, the ECB left the benchmark interest rate unchanged at a record low 0.25 percent, as widely expected, despite deflation fears. The interest rate on the marginal lending facility and the deposit facility were also left unchanged at 0.75 percent and 0.00 percent, respectively.
Euro Area GDP Growth Revised Down in Q4  
The Euro Area economy advanced 0.2 percent in the last quarter of 2013, according to the third estimate released by the Eurostat. The final figure comes below a 0.3 percent expansion earlier reported, as growth of exports and imports was revised.
Euro Area Unemployment Rate Steady in February  
The euro area seasonally-adjusted unemployment rate was 11.9 percent in February 2014, unchanged from a downward revised 11.9 percent in January and steady since October of 2013. It was 12.0 percent in February of 2013.
Euro Area Inflation Rate Slows Again in March  
Euro Area annual inflation is expected to be 0.5 percent in March of 2014, down from 0.7 percent in February, according to a flash estimate. It is the lowest rate since November of 2009.
Euro Area Trade Surplus Narrows in January  
Euro Area recorded a € 900 million trade surplus in January of 2014, compared with a € 13.8 billion surplus a month earlier, as imports surged 8.6 percent. January's reading is above the € 5.4 billion deficit recorded in the same month last year.
Euro Area Inflation Rate Back to 0.7% in February  
Euro Area annual inflation came back to a 4-year low of 0.7 percent in February of 2014, revised downwards from a preliminary 0.8 percent. On a monthly basis, prices increased 0.3 percent.
Euro Area Industrial Production Up 2.1% YoY in January  
Euro Area industrial output rose at a faster-than-expected 2.1 percent over a year earlier in January of 2014, compared with a 0.5 percent rise in the previous month. On a monthly basis, production shrank for the second straight month by 0.2 percent on falling energy output.


US Durable Goods Orders Surge in March  
New orders for manufactured durable goods in March increased $6.0 billion or 2.6 percent to $234.8 billion. This increase, up two consecutive months, followed a 2.1 percent February increase.
US Jobless Claims Rise in Latest Week  
In the week ending April 19, the advance figure for seasonally adjusted initial claims was 329,000, an increase of 24,000 from the previous week's revised level. There were no special factors impacting this week's initial claims.
Central Bank of Turkey Leaves Main Rates on Hold  
The Monetary Policy Committee decided on April 24th, 2014, to leave the one-week repo rate on hold at 10.0 percent for the third straight meeting. The Central Bank said it will maintain the current policy stance until there is a significant improvement in the outlook for inflation.
Swiss Trade Surplus Narrows Further in March  
The trade surplus decreased 10.6 percent in March of 2014 from the previous month to CHF 2.1 billion as imports rose at a higher pace than exports. Compared with a year earlier, the trade balance increased by 17.2 percent, driven by stronger sales of pharmaceuticals and chemicals products, and machinery to Europe and China.
Polish Unemployment Rate Falls in March  
Poland’s jobless rate dropped for the second straight month in March of 2014 to 13.5 percent, down from 13.9 percent in February and below market forecasts. A year earlier, unemployment was recorded at 14.3 percent.
South Korean Economy Expands at a Fastest Pace  
In the first quarter of 2014, South Korea’s GDP accelerated for the fourth straight quarter to an annual 3.9 percent growth rate, driven by exports.
South Korea GDP Growth Beats Expectations in Q1  
South Korean GDP expanded a seasonally adjusted 0.9 percent on quarter in the first three months of 2014, the same rate recorded in the previous quarter and above market expectations.
Reserve Bank of New Zealand Increases Interest Rate to 3.0%  
At its April 23rd, 2014 meeting, the Reserve Bank of New Zealand lifted the benchmark interest rate for the second straight meeting by 25 bps to 3.0 percent, as inflationary pressures were increasing and were expected to continue doing so over the next two years.
US New Home Sales Fall Sharply in March  
Sales of new single-family houses dropped 14.5 percent in March of 2014 to their lowest level in eight months. Sales were recorded at a seasonally adjusted annual rate of 384,000, below the revised February rate of 449,000.
US Markit Manufacturing PMI Steady in April  
At 55.4 in April, the Markit Flash U.S. Manufacturing PMI was down fractionally from 55.5 in March, but still well above the neutral 50.0 value. Sharper rates of output and new business growth boosted the Manufacturing PMI during April, while the main negative influence on the headline index was a rise in the suppliers’ delivery times component.

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