The current account of the euro area recorded a surplus of €24.1 billion in January 2017. This reflected surpluses for goods (€24.1 billion), primary income (€12.1 billion) and services (€3.5 billion), which were partly offset by a deficit for secondary income (€15.5 billion).

The 12-month cumulated current account for the period ending in January 2017 recorded a surplus of €357.9 billion (3.3% of euro area GDP), compared with one of €321.6 billion (3.1% of euro area GDP) for the 12 months to January 2016. This was due to increases in the surpluses for goods (from €346.8 billion to €366.3 billion), primary income (from €42.5 billion to €59.3 billion) and services (from €58.6 billion to €68.5 billion). These were partly offset by an increase in the deficit for secondary income (from €126.3 billion to €136.3 billion).