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Financial News: Eurozone Current Account Surplus Declines In July

Eurozone Current Account Surplus Declines In July

09/19/2018 - 06:36:00 (RTTNews)

(RTTNews) - The euro area current account surplus decreased in July largely due to a fall in visible trade surplus, the European Central Bank reported Wednesday.

The current account surplus fell to a seasonally adjusted EUR 21 billion in July from EUR 24 billion in June.

The surplus on trade in goods decreased to EUR 19 billion from EUR 23 billion a month ago. Meanwhile, the services surplus rose to EUR 12 billion from EUR 9 billion.

At the same time, primary income fell to EUR 5 billion from EUR 6 billion and the shortfall in secondary income remained unchanged at EUR 14 billion.

In the 12 months to July, the current account registered a surplus of EUR 394 billion or 3.5 percent of euro area GDP, compared with EUR 358 billion or 3.3 percent of euro area GDP in the previous 12-month period.

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