Brussels, Belgium (4E) – The current account surplus in the euro zone decreased in March largely due to a fall in trade surplus, according to data by the European Central Bank released Wednesday.
On a seasonally adjusted basis, the current account surplus dropped to 18.8bn euros in March from 21.8bn euros in the earlier month.
The surplus on trade in goods declined to 13.8bn euros from 15.5bn euros. The surplus on services dropped to 8.5bn euros from 11.6bn euros.
The income account saw an increase to 5.8bn euros from 4.8bn euros in March. The deficit on current transfers fell to 9.3bn euros from 10bn euros.
The current account surplus increased to an unadjusted 20.9bn euros in March from 13.8bn euros in February.
The combined portfolio and direct investment posted net outflows of 30bn euros in March largely due to net outflows of 22bn euros for direct investment and portfolio investment of 8bn euros.