文章基本信息

标题：Developments in the euro area current account during the pandemic
本地全文：下载
作者：Michael Fidora ; Fausto Pastoris ; Martin Schmitz 等
期刊名称：Euro Area Balance of Payments and International Investment Position Statistics
印刷版ISSN：1830-3420
电子版ISSN：1830-3439
出版年度：2021
卷号：2021
语种：English
出版社：European Central Bank
摘要：Amid elevated volatility in economic activity and international trade due to the coronavirus (COVID-19) pandemic, the euro area current account surplus narrowed only slightly in 2020 compared with 2019, from 2.3% to 2.2% of GDP (Chart A, panel a). However, the moderate decrease in the current account surplus in relation to GDP masks a sizeable decline in its value, from €280 billion in 2019 to €250 billion in 2020, as nominal GDP fell sharply over this period, Moreover, pronounced shifts took place in the trade composition and geographic breakdown of the surplus, as well as in the underlying gross external (credit and debit) transactions. This box reviews the main developments in the euro area current account in 2020, with a focus on how the pandemic affected its various components.