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Eurozone Current Account Surplus Falls In November

The euro area current account surplus declined in November due to a sharp fall in secondary income, the European Central Bank reported Tuesday.

The current account surplus fell to EUR 25 billion in November from EUR 26 billion in October. The surplus totaled EUR 24 billion in the same period last year.

The visible trade surplus remained unchanged at EUR 34 billion and the services trade surplus held steady at EUR 9 billion.

Primary income rose to EUR 1 billion from -EUR 5 billion a month ago. Meanwhile, secondary income declined to -EUR 20 billion from -EUR 12 billion in October.

During twelve months to November, the current account surplus totaled EUR 231 billion or 2.0 percent of euro area GDP, down from EUR 278 billion or 2.3 percent a year earlier.

At the same time, in twelve months ended November, the financial account surplus dropped to EUR 221 billion from EUR 229 billion in the same period last year.

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