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article imageEurozone current account surplus grows: ECB

By AFP     Mar 21, 2014 in Business

The eurozone's current account surplus grew to 25.3 billion euros ($35 billion) in January, European Central Bank data showed Friday, incorporating new eurozone member Latvia for the first time.

The monthly figure compared to a surplus of 20 billion euros for December, according to revised data.

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 January, the current account showed a surplus of 227.9 billion euros, compared with a surplus of 135.4 billion euros a year earlier, the data showed.

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