ECB: Eurozone Current Account Surplus Slips
The eurozone's current account surplus contracted to 21.3 billion euros ($29.2 billion) in December from 23.3 billion euros in November, European Central Bank data showed on Tuesday.
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 December, the current account showed a surplus of 221.3 billion euros, compared with a surplus of 128.6 billion euros a year earlier, the data showed.
Source: Agence France Presse
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