The European Central Bank published euro area balance of payments data showing the current account surplus narrowed to EUR 25 billion in February 2026 from EUR 40 billion in the previous month. Over the 12 months to February 2026, the current account recorded a surplus of EUR 289 billion (1.8% of euro area GDP), down from EUR 371 billion (2.4%) one year earlier. In February, surpluses were recorded for goods (EUR 25 billion) and services (EUR 16 billion), while deficits were observed for secondary income (EUR 14 billion) and primary income (EUR 2 billion). The decline in the 12-month surplus was mainly driven by primary income switching from a EUR 29 billion surplus to a EUR 29 billion deficit, alongside a smaller services surplus (EUR 153 billion versus EUR 177 billion) and a larger secondary income deficit (EUR 191 billion versus EUR 177 billion), partly offset by a larger goods surplus (EUR 355 billion versus EUR 343 billion). In the financial account, euro area residents made net direct investments of EUR 248 billion in non-euro area assets, while non-residents invested EUR 15 billion in euro area assets; residents’ net purchases of non-euro area portfolio securities totalled EUR 918 billion and non-residents’ net purchases of euro area portfolio securities totalled EUR 1,013 billion in the 12 months to February 2026. The Eurosystem’s stock of reserve assets rose to EUR 2,045.8 billion in February 2026 from EUR 1,986.9 billion, mainly reflecting positive price changes linked to higher gold prices. The release does not incorporate revisions to previous periods. The next monthly balance of payments release is scheduled for 21 May 2026 (reference data up to March 2026), followed by the quarterly release on 3 July 2026 (reference data up to the first quarter of 2026).
European Central Bank 2026-04-17
European Central Bank reports euro area current account surplus of EUR 25 billion in February as 12-month surplus falls to EUR 289 billion
The European Central Bank reported that the euro area current account surplus narrowed to EUR 25 billion in February 2026, with the 12‑month surplus falling to EUR 289 billion (1.8% of GDP) from EUR 371 billion (2.4%) a year earlier. The weaker surplus mainly reflected primary income shifting from a EUR 29 billion surplus to a EUR 29 billion deficit, a smaller services surplus and a larger secondary income deficit, partly offset by a higher goods surplus. In the financial account, euro area residents made substantial net purchases of non‑euro area direct and portfolio assets, while the Eurosystem’s reserve assets rose to EUR 2,045.8 billion, mainly due to higher gold prices.