European Central Bank reports euro area current account surplus of EUR 16 billion in April as 12 month surplus falls to EUR 269 billion

The European Central Bank published euro area balance of payments data showing a current account surplus of EUR 16 billion in April 2026, up from EUR 15 billion in March. Over the 12 months to April 2026, the current account surplus narrowed to EUR 269 billion, or 1.7% of euro area GDP, from EUR 351 billion, or 2.3% of GDP, a year earlier. April's monthly surplus reflected surpluses in goods of EUR 17 billion and services of EUR 15 billion, partly offset by deficits in secondary income of EUR 16 billion and primary income of EUR 1 billion. The decline in the 12 month surplus was driven by all main components, including a smaller goods surplus, a shift in primary income from a EUR 12 billion surplus to a EUR 19 billion deficit, a wider secondary income deficit and a slightly smaller services surplus. In the financial account over the same 12 month period, euro area residents made net direct investments of EUR 280 billion in non-euro area assets, while non-residents' net direct investment in euro area assets fell to EUR 8 billion. In portfolio investment, euro area residents bought EUR 794 billion of non-euro area securities, while non-residents bought EUR 1,040 billion of euro area securities, including a marked rise in purchases of euro area debt securities to EUR 563 billion from EUR 328 billion a year earlier. The monetary presentation showed euro area monetary financial institutions' net external assets increased by EUR 228 billion in the 12 months to April 2026. In April, the Eurosystem's reserve assets stock fell to EUR 1,888.0 billion from EUR 1,908.1 billion, mainly because of negative price changes linked to lower gold prices, as well as adverse exchange rate changes and net asset sales. The next quarterly balance of payments release is scheduled for 3 July 2026 and the next monthly release for 17 July 2026.