The euro area current account surplus fell to €25 billion in February 2026 from €40 billion in January, while the 12-month surplus narrowed to €289 billion (1.8% of GDP) from €371 billion (2.4% a year earlier), mainly due to weaker primary and services balances partly offset by a stronger goods surplus. In the financial account, portfolio investment flows remained large, with euro area residents increasing net purchases of foreign securities and non-residents also continuing to invest significantly in euro area assets. Net direct investment outflows by euro area residents rose slightly, while other investment showed higher net acquisitions on both asset and liability sides. Overall, despite continued strong capital flows, the euro area external surplus declined compared with the previous year.
