According to official data, on Tuesday, the current account deficit for the eurozone decreased by 95 percent on a monthly basis last October.
The current transactions account means the net transactions of exports and imports of goods and services.
The European Central Bank said that the current account deficit for the eurozone decreased to 400 million euros (424.5 million dollars) last October, compared to 8.1 billion euros (8.59 billion dollars) in the previous September.
During the 12 months until the end of last October, the current account of the eurozone recorded a deficit of 59 billion euros ($62.6 billion), compared to a surplus of 318 billion euros ($337.5 billion) in the 12 months until the end of October 2021.
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According to the data, last October, the current account balance of the countries of the region recorded a deficit in goods trade of 3 billion euros ($3.18 billion), while the services balance surplus amounted to 13 billion euros ($13.8 billion).
The secondary current account income recorded a deficit of 12 billion euros ($12.7 billion) in October, while the primary income account registered a surplus of 2 billion euros ($2.12 billion).
The economies of the eurozone were affected by the negative repercussions of the Russian-Ukrainian war, which caused high levels of global inflation and an unprecedented increase in commodity prices.
The eurozone includes the countries of Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.