Eurozone current account surplus grows: ECB

The eurozone's current account surplus grew to 4.5 billion euros ($5.9 billion) in January from 3.4 billion euros in December, data published by the European Central Bank showed on Monday.

The current account on the balance of payments, which includes 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.

The data, which have historically been subject to large revisions, showed that the eurozone's deficit has narrowed substantially in the past year.

Over the 12 months to January, the deficit total amounted to 21.2 billion euros, or 0.2 percent of gross domestic product. That is substantially narrower than in the previous year, when the 12-month deficit came to 50.6 billion euros.

Source: AFP

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