The seasonally adjusted current account of the euro area recorded a surplus of €18.9 billion in August 2014 (see Table 1). This reflected surpluses for goods (€15.3 billion), services (€7.8 billion) and income (€4.2 billion), which were partly offset by a deficit for current transfers (€8.4 billion). The seasonally adjusted 12-month cumulated current account for the period ending in August 2014 recorded a surplus of €242.9 billion (2.5% of euro area GDP), compared with €202.2 billion (2.1% of euro area GDP) for the 12 months to August 2013 (see Table 1 and Chart 1). The increase in the 12-month cumulated current ... (full story)