Fin24

Eurozone current account healthier

2012-05-23 11:03

Frankfurt - The eurozone's current account swung back to a surplus of €9.1bn in March from a deficit of €1.2bn in February, European Central Bank data showed on Wednesday.

The current account on the balance of payments, which includes 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.

Over the 12 months to March, the current account showed a surplus of €9.6bn, compared with a deficit of €16.7bn in the corresponding period a year earlier, the data showed.