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 1.34 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. 2014-04-21

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 11964387.19 2013-09-30 12063066.12 12096481.11 5501622.07 12035655.62 2013-12-31 EUR Million [+]
Balance of Trade 13600.00 2014-02-15 800.00 21512.70 -16570.20 11122.53 2014-03-31 EUR Million [+]
Imports 139700.00 2014-02-15 147200.00 161000.70 55101.20 146643.86 2014-03-31 EUR Million [+]
Exports 153300.00 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.


Chile Leaves Monetary Policy Unchanged  
At its April 17th, 2014 meeting, Central Bank of Chile left the benchmark interest rate on hold at 4 percent, following last month's cut, citing low output and demand, but hinted possible future rate cuts, depending on domestic and external conditions.
Russia Unemployment Drops in March  
Russian jobless rate fell for the first time in four months to 5.4 percent, after remaining stable at 5.6 percent in the previous two months.
Canada Inflation Rises Above Forecasts in March  
The annual consumer prices in Canada accelerated to 1.5 percent in March of 2014 following a 1.1 increase in the previous month, as energy prices surged.
US Jobless Claims Rise Slightly  
In the week ending April 12, the advance figure for seasonally adjusted initial claims was 304,000, an increase of 2,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 300,000 to 302,000. There were no special factors impacting this week's initial claims.
Brazil Unemployment Rate Down to 5%  
In March of 2014, Brazil’s jobless rate fell by 0.1 percentage point to 5 percent, below market forecasts. A year earlier, unemployment reached 5.7 percent.
Dutch Unemployment Rate Falls for the First Time in 2014  
In March of 2014, Netherlands’ seasonally adjusted jobless rate fell to 8.7 percent from 8.8 percent in the previous month and 8.1 percent a year earlier, as more people left permanently the labor market rather than found jobs.
Singaporean Trade Surplus Narrows Sharply in March  
The trade surplus decreased 51.1 percent in March of 2014 over a year earlier and 47.2 percent from February to SGD 2.3 billion. Imports rose at a faster pace than exports, as sales of pharmaceuticals and electronics fell, while shipments of petrochemicals and re-exports contributed to overall increase.
Mozambique Leaves Lending Rate Steady at 8.25%  
At its April 16th, 2014 meeting, Bank of Mozambique left its benchmark interest rate unchanged at 8.25 percent for the sixth consecutive meeting, saying this was consistent with meeting domestic economic targets for 2014.
Spanish Trade Deficit Narrows to 4-Month Low  
In February of 2014, Spanish trade gap decreased to € 1.62 billion, down from € 2.82 billion in the previous month. Compared with the same month a year earlier, the trade deficit widened 37 percent.
Angolan Inflation Rate Down To 7.32% in March  
The annual consumer prices in Angola decelerated for the second consecutive month to 7.32 percent in March of 2014, from 7.48 percent recorded in February of 2014.

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