Eurozone records current account deficit in March | Photo credit: Shutterstock
FRANKFURT, May 19 (Reuters) – The euro zone’s current account balance in March fell to a deficit for the first time in a decade due to the trade deficit and an increase in payment transfers out of the community bloc, shows Thursday the data released by the European Central Bank.
The 19 countries sharing the euro recorded a current account deficit of 1.57 billion euros after adjusting for seasonal effects against a surplus of 15.73 billion in February.
Over 12 months to the end of March, the current account surplus represented 1.8% of gross domestic product in the euro zone, against 2.6% during the previous 12 months. (Report Balazs Koranyi, French version Laetitia Volga, edited by Kate Entringer)