Eurozone current account deficit widens to €26B in August

By Tuba Sahin

ANKARA (AA) – The current account deficit in the euro area increased to €26 billion ($25.4 billion) in August, according to official data released Thursday.

The figure marked a rise of €6 billion from July, the European Central Bank (ECB) said in a statement.

In August 2021, the eurozone had a €17 billion current account surplus.

The goods deficit grew to €21 billion last month, up from €19 billion in July, while the secondary income gap expanded to €15 billion.

“These were partly offset by surpluses for services (€7 billion) and primary income (€3 billion),” read an ECB statement.

“In the 12 months to this August, the current account recorded a deficit of €19 billion (0.1% of euro area GDP), compared with a surplus of €338 billion (2.8% of euro area GDP) in the 12 months to August 2021.”