FX.co ★ Netherlands Current Account Surplus Narrows in Q2

In the second quarter of 2025, the Netherlands saw its current account surplus shrink to €13.2 billion, a decline from the €20.4 billion recorded in the same quarter of the previous year. This represents the smallest surplus since the third quarter of 2022. The reduction is primarily attributable to a decreased goods trade surplus, which dropped to €15.0 billion from €16.7 billion in Q2 2024. Furthermore, the primary income deficit expanded significantly, reaching €13.9 billion compared to €7.1 billion a year prior. On a more positive note, the services surplus grew to €13.5 billion from €12.3 billion, while the secondary income deficit remained relatively stable at €1.4 billion.