The euro zone's current account swung back to a surplus of €9.1 billion in March from a deficit of €1.2 billion in February, the latest European Central Bank data showed today.

The current account on the balance of payments is a closely tracked indicator of the ability of a country or area to pay its way in the world.

It includes imports and exports in both goods and services plus all other current transfers

The figure is crucial for the long-term confidence of investors and trading partners.

Over the 12 months to March, the current account showed a surplus of €9.6 billion compared with a deficit of €16.7 billion the same time a year earlier, the data showed.