Euro area monthly balance of payments: September 2024

The current account of the euro area recorded a surplus of €37 billion in September 2024, an increase of €2 billion from the previous month (Chart 1 and Table 1). Surpluses were recorded for goods (€33 billion), services (€16 billion) and primary income (€2 billion). A deficit was recorded for secondary income (€14 billion).

In the 12 months to September 2024, the current account surplus widened to €425 billion (2.8% of euro area GDP), up from €182 billion (1.3% of euro area GDP) one year earlier. This increase was mainly driven by a larger surplus for goods (up from €185 billion to €385 billion), and, to a lesser extent, by larger surpluses for services (up from €137 billion to €167 billion), and primary income (up from €27 billion to €37 billion). The secondary income deficit remained broadly the same (slightly down from €167 billion to €164 billion).