Reduction from around 26 billion to around 25 billion euros compared to the previous month
The surplus in the eurozone's current account decreased somewhat in November. The European Central Bank (ECB) announced that it fell from around EUR 26 billion in the previous month to around EUR 25 billion. The trade and services surpluses remained roughly stable. The deficit in the primary income account turned into a slight surplus, while the deficit in the secondary income account widened.
The current account represents the economic exchange between the euro zone and the rest of the world. It shows the trade in goods and services as well as income transfers. The latter result, for example, from remittances from guest workers. The eurozone usually has a large surplus in its current account. As a result of the corona crisis, stronger fluctuations occurred, especially in the trade balance.
