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Eurozone current account surplus grows: ECB

Last Updated: Thursday, January 23, 2014 - 17:03

Brussels: The eurozone`s current account surplus grew to 23.5 billion euros (USD 32 billion) in November from 22.2 billion euros in October, European Central Bank data showed on Thursday. 

The current account on the balance of payments, which includes payments for imports and exports in both goods and services plus all other current transfers, is a closely tracked indicator of the ability of a country or area to pay its way in the world.

It is crucial for the long-term confidence of investors and trading partners, and an important factor in the value of a currency, in this case the euro, on the foreign exchange market.

Over the 12 months to November, the current account showed a surplus of 215.8 billion euros, compared with a surplus of 118 billion euros a year earlier, the data showed.

AFP
First Published: Thursday, January 23, 2014 - 17:03
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