19.02.2015 - Eurozone balance of payments surplus grew less than expected
Eurozone balance of payments surplus unexpectedly showed weak growth and has made only 17.8 billion euros in December. The index reached a four-month low. In November, the figure was at the level of 19.9 billion dollars. The surplus on trade of goods rose to 28.1 billion euros in December against 20.2 in November, but the surplus in the services sector amounted to only 3.9 billion euros, which is 4.1 billion less than in the previous period. During the 2014 balance of payments surplus totaled 240.2 billion euros, which corresponds to 2.4% of GDP in the Eurozone. We forecast a further weakening of the euro due to the launch of quantitative easing in the euro area in March and is expected the decline to 1.10 in the medium term.