According to the report from the European Central Bank, the current account of the euro area recorded a surplus of €22 billion in June 2021, an increase of €8 billion from the previous month. Surpluses were recorded for goods (€22 billion), services (€11 billion) and primary income (€3 billion). These were partly offset by a deficit for secondary income (€14 billion).

In the 12 months to June 2021, the current account recorded a surplus of €316 billion (2.8% of euro area GDP), compared with a surplus of €235 billion (2.0% of euro area GDP) in the 12 months to June 2020. This increase was driven by larger surpluses for goods (up from €309 billion to €372 billion) and for services (up from €44 billion to €83 billion). These developments were partly offset by a reduction in the surplus for primary income (down from €38 billion to €31 billion) and by a larger deficit for secondary income (up from €155 billion to €170 billion).

In financial account, euro area residents’ net acquisitions of non-euro area portfolio investment securities totalled €953 billion and non-residents’ net acquisitions of euro area portfolio investment securities totalled €54 billion in 12 months to June 2021