The European Union recorded a current account surplus of EUR113.2 billion (2.5% of GDP) in the fourth quarter of 2024, after a surplus of EUR107.5 billion (2.4% of GDP) in the previous quarter and a surplus of EUR103.4 billion (2.4% of GDP) in the fourth quarter of 2023.
In the fourth quarter of 2024, 18 EU member states recorded a current account surplus, led by Germany (EUR50.4 billion), the Netherlands (EUR38.9 billion), Ireland (EUR18.2 billion), Denmark (EUR15.2 billion), France (EUR14.8 billion), Italy (EUR9.9 billion) and Sweden (EUR9.7 billion), while eight other member states, including Romania, recorded a current account deficit, and one member state – Portugal – was in balance, the report also reads.
In October-December 2024 period, the EU recorded current account surpluses in its relations with the United Kingdom (EUR49 billion), Switzerland (EUR28.3 billion), offshore financial centers (EUR21.7 billion), the USA (EUR20.6 billion), Canada (EUR12.8 billion), Hong Kong (EUR10.6 billion), Brazil (EUR8.4 billion) and Japan (EUR7.9 billion).
Deficits were in its relations with China (minus EUR49.4 billion), Russia (minus EUR1.5 billion) and India (minus EUR1.3 billion).
The European Union (EU27) includes Belgium, Bulgaria, Czechia, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland and Sweden.
The euro area (EA20) includes Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.