Euro zone swings back to current account surplus in Nov

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January 19, 2023 4:16 AM EST

FILE PHOTO: 50 and 20 Euro banknotes are displayed in this picture illustration taken November 14, 2017. REUTERS/Benoit Tessier/Illustration/File Photo

FRANKFURT (Reuters) - The euro zone swung back to a current account surplus in November on an improved balance in the trade of goods and services, European Central Bank data showed on Thursday.

The euro zone recorded an adjusted current surplus of 13.6 billion euros after a 0.5 billion deficit a month earlier, mostly likely as moderating energy prices curtailed the cost of imports.

The euro zone ran large current account surpluses for years but a surge in energy costs last year pushed it into a rare deficit, even if that trend has now appeared to shift back towards monthly surpluses.

(Reporting by Balazs Koranyi; Editing by Francesco Canepa)


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