Data from the European Central Bank showed that in April, the eurozone's current account surplus (seasonally adjusted) fell to 19.8 billion euros from 50.9 billion euros in March (an all-time high). This was the lowest reading since May 2023. Economists had expected a decline to 40.4 billion euros. Surpluses were recorded for goods (30 billion euros) and services (7 billion euros), while the primary income account was balanced (0 billion euros). A deficit was recorded for secondary income (16 billion euros).
In the 12 months to April 2025, the current account surplus was 419 billion euros (2.8% of eurozone GDP), compared with a surplus of 339 billion euros (2.3% of eurozone GDP) one year earlier. This increase was mainly driven by larger surpluses for goods (up from 342 billion euros to 384 billion euros), services (up from 140 billion euros to 164 billion euros) and primary income (up from 25 billion euros to 48 billion euros). These developments were partly offset by a larger deficit for secondary income (up from 168 billion euros to 176 billion euros).
In financial account, euro area residents’ net acquisitions of non-euro area portfolio investment securities totalled 690 billion euros and non-residents’ net acquisitions of euro area portfolio investment securities totalled 690 billion euros in the 12 months to April 2025.