Euro zone current account surplus shrinks to 2-year lowStaff Writer |
Europe European exports have taken a hit in recent months
The adjusted current account surplus of the 19 countries sharing the euro narrowed to 16 billion euros in December from 23 billion euros in November, its lowest figure in two years, data from the European Central Bank showed on Tuesday.
In the 12 months to December, the surplus was 3.0 percent of the bloc's gross domestic product, down from 3.2 percent in the preceding 12-month period, with the trade surplus narrowing even more.
The ECB earlier said it expected the current account surplus to drop to 2.7 percent of GDP this year and shrink further to 2.5 percent by 2021. ■
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