The euro area’s current account surplus reached 83.2 billion euros, accounting for 2.2% of its Gross Domestic Product (GDP). This figure is an increase from the 79 billion euros surplus recorded between October and December 2023 (2.1% of GDP) but a decrease from the 90.1 billion euros surplus in the third quarter of 2024 (2.4% of GDP).
According to data from the European statistical service, the European Union’s (EU) current account balance of payments saw an increase in its seasonally adjusted year-on-year variation. In the fourth quarter of 2024, the EU recorded a surplus of 113.2 billion euros (2.5% of GDP).
This surplus surpasses the figure from the same period last year (103.4 billion euros, 2.4% of GDP) and also exceeds the surplus registered in the previous quarter (107.5 billion euros, 2.4% of GDP).
During the aforementioned period, the EU reported current account surpluses with the United Kingdom (49.0 billion euros), Switzerland (28.3 billion euros), offshore financial centers (21.7 billion euros), the United States (20.6 billion euros), Canada (12.8 billion euros), Hong Kong (10.6 billion euros), Brazil (8.4 billion euros), and Japan (7.9 billion euros).
However, deficits were recorded with China (-49.4 billion euros), Russia (-1.5 billion euros), and India (-1.3 billion euros).
