The European Central Bank published euro area balance of payments statistics showing a current account surplus of EUR 26 billion in October 2025, up from EUR 24 billion in the previous month. Over the 12 months to October 2025, the current account surplus totalled EUR 313 billion (2.0% of euro area GDP), down from EUR 419 billion (2.8%) a year earlier. In October 2025, surpluses were recorded for goods (EUR 31 billion) and services (EUR 13 billion), while deficits were recorded for primary income (EUR 3 billion) and secondary income (EUR 16 billion). The fall in the 12-month surplus mainly reflected primary income switching from a surplus (EUR 50 billion) to a deficit (EUR 21 billion), alongside a lower services surplus (EUR 152 billion versus EUR 175 billion) and a wider secondary income deficit (EUR 188 billion versus EUR 166 billion), partly offset by a higher goods surplus (EUR 370 billion versus EUR 360 billion). In the financial account over the same 12-month period, euro area residents’ net acquisitions of non-euro area portfolio securities totalled EUR 829 billion and non-residents’ net acquisitions of euro area portfolio securities totalled EUR 780 billion; direct investment showed euro area residents making net investments of EUR 162 billion in non-euro area assets and non-residents investing EUR 74 billion in euro area assets. The Eurosystem’s stock of reserve assets increased to EUR 1,709.8 billion in October 2025 from EUR 1,622.2 billion, driven mainly by positive price changes linked to gold. The release incorporated revisions to seasonally and working day-adjusted current account series from January 2013 onwards due to updated seasonal and working-day factors, without materially changing previously published figures. The ECB scheduled the next quarterly balance of payments release for 13 January 2026 and the next monthly balance of payments release for 20 January 2026.
European Central Bank 2025-12-19
European Central Bank reports euro area current account surplus rose to EUR 26 billion in October 2025 while the 12-month surplus fell to EUR 313 billion
The European Central Bank reported a euro area current account surplus of EUR 26 billion in October 2025, up from EUR 24 billion in September. Over the 12 months to October 2025, the surplus was EUR 313 billion (2.0% of GDP), down from EUR 419 billion (2.8%) the previous year, mainly due to a shift in primary income from surplus to deficit and a reduced services surplus. The financial account showed significant net acquisitions of portfolio securities by both euro area residents and non-residents, while the Eurosystem's reserve assets rose to EUR 1,709.8 billion, primarily due to gold price changes.