Balance of payments BPM6: Current account Balance: Total: Total Balance as % of GDP for the European Union
EU28B6BLTT02STSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.46
Year-over-Year Change
-4.23%
Date Range
1/1/1999 - 10/1/2019
Summary
The Balance of Payments (BPM6) Current Account Balance as a percentage of GDP for the European Union measures the net economic transactions between the EU and the rest of the world. It is a key indicator of economic health and international competitiveness.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The BPM6 Current Account Balance tracks the flow of goods, services, income, and current transfers between the European Union and other countries. It reflects the EU's trade balance, international investment income, and other cross-border economic activity. This metric is closely watched by policymakers, investors, and analysts to assess the EU's overall economic performance and global economic position.
Methodology
The data is collected and calculated by Eurostat based on member state reporting.
Historical Context
The Current Account Balance is used to evaluate the EU's external trade and financing, with implications for economic policy, exchange rates, and financial stability.
Key Facts
- The EU's current account balance has ranged from -1.1% to 2.9% of GDP in the past decade.
- Germany and the Netherlands typically have large current account surpluses, while Greece, Spain, and Portugal have deficits.
- The COVID-19 pandemic caused a sharp drop in the EU's current account surplus in 2020.
FAQs
Q: What does this economic trend measure?
A: The Balance of Payments (BPM6) Current Account Balance as a percentage of GDP for the European Union measures the net flow of goods, services, income, and current transfers between the EU and the rest of the world.
Q: Why is this trend relevant for users or analysts?
A: The Current Account Balance is a key indicator of the EU's trade performance, international competitiveness, and overall economic health. It is closely watched by policymakers, investors, and analysts to assess the EU's global economic position.
Q: How is this data collected or calculated?
A: The data is collected and calculated by Eurostat based on reporting from European Union member states.
Q: How is this trend used in economic policy?
A: The Current Account Balance is used to evaluate the EU's external trade and financing, with implications for economic policy, exchange rates, and financial stability.
Q: Are there update delays or limitations?
A: The data is updated quarterly by Eurostat, with a typical lag of 3-6 months.
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Citation
U.S. Federal Reserve, Balance of payments BPM6: Current account Balance: Total: Total Balance as % of GDP for the European Union (EU28B6BLTT02STSAQ), retrieved from FRED.