Euro Area Current Account to GDP

The Current Account in the Euro Area was last reported at -0.4 percent of GDP. From 1999 until 2010, the Euro Area's average Current Account as percent of GDP was -0.23 percent reaching an historical high of 0.80 percent in December of 2004 and a record low of -1.50 percent in December of 2000. Usually, when the Euro Area records a strong current account, its Gross Domestic Product expands boosted by exports revenues. Also, the Euro Area's exchange rate appreciates as investors begin to expect higher interest rates going forward. However, when the Euro Area reports a stronger than expected current account to GDP, it may also lead to economic overheating and a general rise in prices, also known as inflation, which will make the Euro Area's products less competitive when sold abroad. This page includes a chart with historical data for the Euro Area's Current Account as a percent of GDP.

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Current Account to GDP

Current account balance as a percent of GDP (current account to GDP) is the current account a country has in percentage of its Gross Domestic Product. The current account is one of the two most important components of the balance of payments; the other is the capital account. The current account is the sum of the balance of trade (exports minus imports), net factor income (interest and dividends) and net transfer payments (foreign aid). Current account balance as a percent of GDP indicates the nature of a country's foreign trade. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with a high savings ratings but weak domestic demand.

Euro Area News

Euro Area Trade Surplus Widens in December
Published: 2/15/2012 12:31:14 PM By: TradingEconomics.com, Eurostat
The first estimate for the euro area (EA17) trade in goods balance with the rest of the world in December 2011 gave a 9.7 bn euro surplus, compared with -1.7 bn in December 2010.

Euro Area GDP Down by 0.3% in Q4
Published: 2/15/2012 10:08:12 AM By: TradingEconomics.com, Eurostat
Euro Area GDP fell by 0.3% in both the euro area (EA17) and the EU271 during the fourth quarter of 2011, compared with the previous quarter, according to flash estimates published by Eurostat. In the third quarter of 2011, growth rates were +0.1% and +0.3% respectively.

ECB Keeps Interest Rate at 1%
Published: 2/9/2012 1:49:56 PM By: TradingEconomics.com, ECB
At the meeting on February 9th, 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 Unemployment Rate at 10.4% in December
Published: 1/31/2012 1:46:43 PM By: TradingEconomics.com, Eurostat
The euro area (EA17) seasonally-adjusted unemployment rate was 10.4% in December 2011, unchanged compared with November. It was 10.0% in December 2010.

Euro Area Annual inflation down to 2.7%
Published: 1/17/2012 12:27:24 PM By: TradingEconomics.com, Eurostat
Euro area annual inflation was 2.7% in December 2011, down from 3.0% in November. A year earlier the rate was 2.2%. Monthly inflation was 0.3% in December 2011.

Euro Area Trade Surplus Widens in November
Published: 1/13/2012 11:59:35 AM By: TradingEconomics.com, Eurostat
The first estimate for euro area (EA17) trade with the rest of the world in November 2011 gave a 6.9 bn euro surplus, compared with -2.3 bn euro in November 2010. The October 2011 balance was +1.0 bn, compared with +3.1 bn in October 2010. In November 2011 compared with October 2011, seasonally adjusted exports rose by 3.9%, while imports remained stable.

ECB Keeps Interest Rate Unchanged
Published: 1/12/2012 12:48:31 PM By: TradingEconomics.com, ECB
At today’s meeting 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 Aea Unemployment Rate at 10.3%
Published: 1/6/2012 12:02:02 PM By: TradingEconomics.com, Eurostat
The euro area (EA17) seasonally-adjusted unemployment rate was 10.3% in November 2011, unchanged compared with October. It was 10.0% in November 2010.

Euro Area Trade Surplus Widens in October
Published: 12/16/2011 1:53:03 PM By: TradingEconomics.com, Eurostat
The first estimate for euro area (EA17) trade with the rest of the world in October 2011 gave a 1.1 bn euro surplus, compared with +3.1 bn euro in October 2010. The September 2011 balance was +2.7 bn, compared with +0.3 bn in September 2010.

Euro Area Annual Inflation Stable at 3.0%
Published: 12/15/2011 1:05:34 PM By: TradingEconomics.com, Eurostat
Euro area annual inflation was 3.0% in November 2011, unchanged compared with October. A year earlier the rate was 1.9%. Monthly inflation was 0.1% in November 2011.

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