Euro area current account surplus falls to €9bn in August 2026
ECB data show the euro area current account surplus narrowed to €9bn in August 2026, down €18bn from July, with the 12-month surplus at €250bn, or 1.5% of GDP.
What you need to know
The euro area recorded a current account surplus of €9 billion in August 2026, €18 billion less than the previous month, the ECB said. Goods and services surpluses were partly offset by deficits in secondary and primary income. The 12-month surplus was €250 billion, or 1.5% of GDP.
- August 2026 current account surplus was €9 billion, down from €27 billion in July.
- Goods recorded an €18 billion surplus and services €13 billion, partly offset by an €18 billion secondary income deficit and €4 billion primary income deficit.
- The 12-month surplus to August 2026 was €250 billion, or 1.5% of euro area GDP, versus €290 billion a year earlier.
Monthly current account
The euro area's current account surplus fell to €9 billion in August 2026 from €27 billion in July, a decrease of €18 billion, according to the European Central Bank's monthly balance of payments release published on 20 October 2026.
The monthly result combined a goods surplus of €18 billion and a services surplus of €13 billion. These were partly offset by a secondary income deficit of €18 billion and a primary income deficit of €4 billion.
Twelve-month picture
Over the 12 months to August 2026, the current account surplus was €250 billion, equal to 1.5% of euro area GDP. A year earlier the surplus was €290 billion, or 1.8% of GDP.
The ECB attributed the decline mainly to a smaller goods surplus, which fell from €320 billion to €290 billion, and to a larger secondary income deficit, which rose from €179 billion to €207 billion. Larger services and primary income surpluses partly offset those changes.
Financial account and reserves
In the 12 months to August 2026, euro area residents made net direct investment of €424 billion in non-euro area assets, while non-residents invested €89 billion net in euro area assets.
The Eurosystem's reserve assets rose to €1,858.8 billion at the end of August 2026 from €1,752.5 billion a month earlier. The ECB said the increase was mainly driven by positive price changes of €108.2 billion, explained by a rise in the price of monetary gold, and to a lesser extent by net acquisitions of €1.1 billion, partly offset by negative exchange rate changes of €3.0 billion.
How large was the euro area current account surplus in August 2026?
It was €9 billion, down €18 billion from July's €27 billion. The 12-month surplus to August 2026 was €250 billion, or 1.5% of euro area GDP, down from €290 billion a year earlier.
Sources & context
- Euro area monthly balance of payments: August 2026 ↗ecb.europa.eu
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