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The geography of the euro area current account balance


  • Fidora, Michael
  • Schmitz, Martin


The composition of the euro area current account balance in terms of its geographical counterparts has been fairly stable in recent years, with the euro area's most important trading partners accounting for the largest part of the bilateral surpluses and deficits. The bulk of the increase in the euro area's current account surplus since 2013 was accounted for by improvements vis-à-vis the euro area's three largest trading partners. The largest changes in the geographical breakdown of the euro area current account balances were recorded for trade in goods and primary income. JEL Classification: F32, F41

Suggested Citation

  • Fidora, Michael & Schmitz, Martin, 2018. "The geography of the euro area current account balance," Economic Bulletin Boxes, European Central Bank, vol. 7.
  • Handle: RePEc:ecb:ecbbox:2018:0007:2
    Note: 491968

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    Current account; income balance; trade;

    JEL classification:

    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics


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