Euro Area Posts €9 Billion Current Account Surplus in August 2026

Monthly Current Account Performance

According to data published by the European Central Bank on October 20, 2026, the euro area current account recorded a surplus of €9 billion in August 2026. This represents a decrease of €18 billion compared to the previous month's surplus of €27 billion. The August figures were supported by surpluses in goods at €18 billion and services at €13 billion. These inflows were partially offset by secondary income deficits of €18 billion and primary income deficits of €4 billion.

The current-account figures are seasonally and working-day adjusted. The release incorporates revisions to July; linked series may change in later releases.

12-Month Cumulated Trends

For the 12 months leading to August 2026, the euro area current account surplus stood at €250 billion, representing 1.5% of the euro area GDP. This is down from a surplus of €290 billion, or 1.8% of GDP, recorded one year earlier. The European Central Bank attributed this reduction primarily to a smaller goods surplus, which dropped from €320 billion to €290 billion, and an increased secondary income deficit, which rose from €179 billion to €207 billion. Conversely, services surpluses grew from €140 billion to €153 billion, and primary income surpluses increased from €9 billion to €14 billion.

Financial Account and Reserve Assets

In the financial account for the 12-month period ending August 2026, euro area residents made net direct investments of €424 billion in non-euro area assets, increasing from €211 billion the prior year. Non-residents invested €89 billion in net terms in euro area assets over the same timeframe. Additionally, the Eurosystem's stock of reserve assets rose to €1,858.8 billion in August 2026, up from €1,752.5 billion in July 2026. This increase was driven largely by positive price changes of €108.2 billion due to rising monetary gold prices, alongside €1.1 billion in net asset acquisitions, offset by €3.0 billion in negative exchange rate changes.