Eurozone Current Account Surplus Increased in December

European Central Bank data showed that the eurozone’s current account surplus widened in December due to a higher trade surplus and a larger contraction of the secondary income deficit, which includes outflows such as remittances and taxes.

The 19-nation bloc, which deals in euros, recorded a current account surplus of 36.7 billion euros in December, up from 25.1 billion euros in November and well above the 20.1 billion recorded a year ago, according to the revised figures.

In the twelve months to December, the current account surplus was 2.2% of the bloc’s GDP, down from 2.3% in the corresponding period.