Eurozone current account surplus rebounds sharply in Nov, hits all-time high

According to estimates from Eurostat, the statistical office of the European Union, the eurozone's current account surplus rebounded sharply in November to reach an all-time high of 36.1 billion euros ($38.45 billion) compared to EUR28.3 billion in the previous month.

In the 12 months to November, the cumulative surplus stood at 3.4 percent of the eurozone's gross domestic product, compared with 3.1 percent one year earlier.

The surplus on trade in goods rose to EUR 30.9 billion from EUR 25.9 billion in the preceding month. At the same time, the surplus on services shrank to EUR 4.8 billion from EUR 8.9 billion. Primary income surplus rose from EUR 6.3 billion in October to EUR 12.1 billion. On the other side, secondary income showed a deficit of EUR 11.7 billion versus shortfall of EUR 12.9 billion in the preceding month.

Investments in the euro zone fell sharply in November. Unadjusted direct and portfolio investments meanwhile turned negative, dropping by 6.3 billion euros after an inflow of 68.0 billion euros with direct investments falling by more than half and portfolio outflows rising sharply.