The European Central Bank published euro area balance of payments statistics showing the current account recorded a €51 billion surplus in March 2025, up from €41 billion in the previous month. Over the 12 months to March 2025, the surplus widened to €438 billion, equivalent to 2.9% of euro area GDP, from €312 billion (2.1%) a year earlier. March’s surplus reflected positive balances in goods (€44 billion), services (€13 billion) and primary income (€7 billion), partly offset by a secondary income deficit (€13 billion). In the financial account over the 12 months to March 2025, euro area residents recorded net direct investment into non-euro area assets of €110 billion, while non-residents disinvested €101 billion from euro area assets; in portfolio investment, residents’ net purchases of non-euro area securities totalled €698 billion and non-residents’ net purchases of euro area securities totalled €782 billion. The Eurosystem’s stock of reserve assets rose to €1,511.0 billion in March 2025 from €1,478.6 billion, mainly driven by positive price changes linked to higher gold prices. The release incorporated revisions to January and February 2025 data, which the ECB indicated did not significantly alter previously published figures. The ECB scheduled the next monthly balance of payments release for 18 June 2025 and the next quarterly release for 3 July 2025.
European Central Bank 2025-05-20
European Central Bank reports euro area current account surplus rose to €51 billion in March 2025 and €438 billion over the past year
The European Central Bank reported a €51 billion current account surplus for the euro area in March 2025, up from €41 billion in February. Over the 12 months to March 2025, the surplus increased to €438 billion, or 2.9% of GDP, from €312 billion (2.1%) the previous year. The financial account showed significant net direct and portfolio investments, with the Eurosystem's reserve assets rising to €1,511 billion due to higher gold prices.