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Financial News: Eurozone Current Account Balance Swings To Surplus

Eurozone Current Account Balance Swings To Surplus

08/19/2022 - 05:48:00 (RTTNews)

(RTTNews) - The eurozone current account balance turned to a surplus in June from a deficit in the previous month, the European Central Bank said on Friday.

The current account balance showed a surplus of EUR 4.0 billion in June versus deficit of EUR 7.0 billion in May.

In the corresponding month last year, there was a surplus of EUR 28.0 billion.

In June, the surpluses on services and primary income were partly offset by a deficit on secondary income .

The trade in goods remained balanced at the end of the second quarter. Meanwhile, the surplus on trade in services rose to EUR 18 billion from EUR 14 billion.

Primary income swung to a surplus of EUR 4.0 billion in June versus a deficit of EUR 6.0 billion in May. At the same time, the shortfall in secondary income widened to EUR 17 billion from EUR 15 billion.

In the twelve months to June, the current account surplus totaled EUR 112 billion, or 0.9 percent of GDP, down from EUR 361 billion or 3.1 percent a year ago.

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