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Eurozone Dec Current Account Surplus Falls

The euro area current account surplus declined in December largely due to widening shortfall in current transfers, the European Central Bank reported Monday.

The current account surplus fell to a seasonally adjusted EUR 13.9 billion in December from EUR 15.9 billion a month ago.

The deficit in current transfers increased to EUR 8.4 billion from EUR 7.5 billion in November. Likewise, the surplus in income fell to EUR 0.6 billion from EUR 3.1 billion.

On the other hand, the surplus in goods account and services increased to EUR 13.7 billion and EUR 7.9 billion, respectively.

According to the preliminary results for 2012 as a whole, the seasonally adjusted current account registered a surplus of EUR 116.1 billion, equivalent to around 1.2 percent of euro area GDP. That compared with a surplus of EUR 8.9 billion in 2011.

by RTTNews Staff Writer

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