FX.co ★ Eurozone Current Account Surplus Shrinks in November

In November 2025, the eurozone observed a significant contraction in its current account surplus, which decreased to €12.6 billion from €27.1 billion in the previous November. This contraction was driven by declining trade and income balances. Notably, the surplus in goods reduced to €27.1 billion from €33.0 billion, attributed to a 2.8% decline in exports compared to a marginal 0.4% drop in imports. The surplus in services also decreased, falling to €4.4 billion from €6.0 billion. Furthermore, the primary income balance shifted to a €3.4 billion deficit, contrasting sharply with the €4.9 billion surplus recorded in the previous year. Meanwhile, the deficit in secondary income witnessed a slight improvement, narrowing to €15.5 billion from €16.8 billion. Analyzing the period from January to November 2025, the eurozone's current account surplus diminished to €226.2 billion, a notable decline from €366.4 billion observed in the same period in 2024.