|Low||€31.0 B||€30.5 B||
The current account is an important part of a country's balance of payments. The balance of payments systematically records all economic transactions between residents and non-residents over a defined period, usually one year. On the one hand, the current account shows whether the volume of payment flows has increased and whether there is a surplus or deficit in the balance of payments. These are important indicators of an economy and also of the EU.
The current account balance combines four other balances: the trade balance (imports and exports of goods), the services balance (travel, transport and insurance transactions), the transfer balance (remittances from employees, international organizations to or from other countries, development aid) and the income balance (wages, salaries, interest and dividends).
This means that this balance sheet compared to the of the balance of payments, the most comprehensive one of the balance sheets, does not include cash flows from capital imports and capital exports and fluctuations in gold and foreign exchange reserves. In this way, the European Union's current account provides meaningful information on its external economic relations.
A current account surplus increases net external assets and leads to an increase in capital exports in the form of an increase in external assets in the capital account. Some economists interpret this as a sign of weakness, others as its strength. In the case of a current account deficit, this is exactly the opposite. Furthermore, long-lasting, rising external imbalances are seen as causes of financial crises.
These figures are not seasonally and calendar day adjusted, so they show the typical seasonal patterns.
In general, however, values that exceed expectations are regarded as positive for the EUR and negative if they are below expectations.
The chart of the entire available history of the "European Union Current Account n.s.a." macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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