The euro area current account surplus surged to EUR 25.9 billion in March largely due to an increase in trade surplus, the European Central Bank reported Wednesday. The current account surplus amounted to EUR 14.6 billion in February.
The trade in goods totaled EUR 21.8 billion, up sharply from EUR 11.5 billion a month ago. However, the surplus on trade in services fell to EUR 7.6 billion from EUR 8.4 billion.
Income rose to EUR 4.4 billion from EUR 3.5 billion, while the deficit on current transfers narrowed to EUR 7.8 billion from EUR 8.8 billion.
On a seasonally adjusted basis, the current account surplus doubled to EUR 24.8 billion from EUR 11.5 billion in February.
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