The euro area current account surplus increased in October driven by trade in goods and services, data from the European Central Bank showed Friday.
The current account surplus rose to EUR 27 billion from EUR 25 billion in the previous month.
The surplus on goods trade advanced to EUR 35 billion from EUR 33 billion a month ago and that in services to EUR 9 billion from EUR 7 billion.
The primary income showed a shortfall of EUR 5 billion versus EUR 2 billion in September. At the same time, the deficit on secondary income remained unchanged at EUR 12 billion.
In twelve months to October, the surplus on current account totaled EUR 228 billion or 2.0 percent of euro area GDP, down from EUR 272 billion or 2.3 percent a year earlier.
In financial account, euro area residents’ net acquisitions of foreign portfolio investment securities totaled EUR 473 billion and non-residents’ net acquisitions of euro area portfolio investment securities totaled EUR 344 billion in twelve months to October.