EU current account surplus falls to $90 billion in Q2

Eurostat announced Friday that the European Union's current account surplus narrowed to €80.2 billion ($90 billion) in the second quarter of 2026, representing 1.6% of the bloc's gross domestic product and reflecting a pullback from the previous quarter's stronger performance. The reading marked a notable decline from the €98 billion surplus — equivalent to 2% of GDP — registered in the first quarter of 2026, as well as a drop from the €91.7 billion surplus recorded in the same period last year.

Goods and services accounts weaken

The goods account surplus contracted to €62.9 billion in the April-June period, down slightly from €63.6 billion in the preceding quarter, while the services surplus fell more sharply to €41.7 billion from €48.1 billion. Primary income also weakened considerably, with the surplus plummeting to €0.8 billion from €15.7 billion in the first quarter, according to the statistical office.

Income and capital accounts diverge

The secondary income account deficit narrowed to €25.2 billion from €29.3 billion, offering a partial offset to the broader decline. The capital account deficit expanded significantly to €16.2 billion in the second quarter, climbing steeply from €1.7 billion in the first three months of the year.