Euro zone's current account deficit widens on soaring energy bill

[beijingwalker]

Euro zone's current account deficit widens on soaring energy bill​

Thu, October 20, 2022 at 3:23 PM

FRANKFURT (Reuters) - The euro zone's current account deficit widened in August as soaring energy costs pushed up the bloc's import bill, data from the European Central Bank showed on Thursday.

The currency bloc of 19 countries, which ran a current account surplus for years before Russia's war in Ukraine, recorded an adjusted deficit of 26.32 billion euros in August after a 19.96 billion deficit a month earlier.

In the 12 months to August, the euro zone's current account deficit equalled 0.1% of gross domestic product (GDP), down from a surplus of 2.8% in the preceding year.

Euro zone's current account deficit widens on soaring energy bill

The currency bloc of 19 countries, which ran a current account surplus for years before Russia's war in Ukraine, recorded an adjusted deficit of 26.32 billion euros in August after a 19.96 billion deficit a month earlier. In the 12 months to August, the euro zone's current account deficit...

finance.yahoo.com

 

[beijingwalker]

US, EU including Germany, Japan, S.Korea...It seems like the whole western bloc is suffering trade deficit now, it's the first time in the history.

 

[Viet]

US, EU including Germany, Japan, S.Korea...It seems like the whole western bloc is suffering trade deficit now, it's the first time in the history.

0.1 percent deficit is nothing. The war in Ukraine won’t last forever.

 

[beijingwalker]

0.1 percent deficit is nothing.

But it goes down too fast, last year they still had surplus, and the war is not over yet.

 

[Viet]

But it goes down too fast, last year they still had surplus, and the war is not over yet.

Don’t worry, the surplus will return. chinese consumers will buy expensive German cars and overpriced French bags.

 

[MH.Yang]

Don’t worry, the surplus will return. chinese consumers will buy expensive German cars and overpriced French bags.

Yes. But we will make chewing gum from used condoms and sell it to you.

 

[beijingwalker]

Don’t worry, the surplus will return. chinese consumers will buy expensive German cars and overpriced French bags.

I don't worry as long as we enjoy huge surplus from them.