Eurozone current account reaches a record of €13.9 billion in December

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Source: 4-traders
The seasonally adjusted current account of the euro area recorded a surplus of €13.9 billion in December 2012, after plummeting from €15.9 billion the previous month. The trade surplus is welcomed in the Eurozone, because it indicates that region's exports outweigh imports, which theoretically should provide an increase in its economic output.
Taking into account the whole 2012, net inflows of direct and portfolio investment dropped to €13 billion in comparison to inflows of €119 billion last year. The decline "was primarily the result of a switch from net sales to net purchases of foreign securities by euro area residents," the ECB said.

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