LUXEMBOURG / EuroWire / – The European Union’s seasonally adjusted current account surplus rose to €113.4 billion in the first quarter of 2026, equal to 2.4% of gross domestic product, Eurostat said. The surplus increased from €99.2 billion, or 2.1% of GDP, in the fourth quarter of 2025. It also topped the €104.9 billion surplus posted in the first quarter of 2025.
The current account measures cross-border flows in goods, services, income and transfers. EU credits reached €1,439.4 billion in the quarter, while debits stood at €1,326.0 billion. The data showed a broader surplus despite a smaller goods balance. Services and primary income provided the main support in the latest balance of payments figures for the 27-nation bloc.
The goods surplus fell to €66.7 billion in the first quarter from €89.0 billion in the previous three months. The services surplus rose to €52.1 billion from €43.9 billion. Primary income moved to a €25.3 billion surplus after a €4.3 billion deficit. The secondary income deficit widened to €30.7 billion from €29.4 billion.
Services surplus rises
The capital account recorded a €3.8 billion deficit in the first quarter. That compared with a €3.2 billion deficit in the fourth quarter of 2025. The euro area current account surplus also increased. It reached €78.0 billion in the first quarter, up from €63.0 billion in the prior quarter. The euro area goods surplus declined to €60.9 billion, while primary income rose to €30.2 billion.
Non-seasonally adjusted figures showed large EU surpluses with several trading partners. The European Union recorded a €72.8 billion surplus with the United Kingdom and a €38.7 billion surplus with Switzerland. It also posted surpluses with Brazil, Canada, Hong Kong, Russia and Japan. Deficits included €66.3 billion with China and €15.8 billion with the United States.
Germany posts largest member surplus
Member-state data showed 16 EU countries with current account surpluses and 10 with deficits in the first quarter. Data for France were not available. Germany posted the largest surplus at €61.8 billion. The Netherlands followed with €26.3 billion, while Ireland recorded €17.4 billion. Denmark, Spain, Sweden and Austria also reported sizable positive balances.
The largest deficits were recorded by Greece at €6.6 billion and Romania at €5.3 billion. Croatia posted a €3.4 billion deficit, while Bulgaria recorded a €2.4 billion gap. Eurostat also reported that direct investment assets increased by €27.1 billion. Direct investment liabilities rose by €30.4 billion, leaving the EU as a net recipient of direct investment from the rest of the world.