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Financial News: Eurozone Current Account Surplus Declines In May

Eurozone Current Account Surplus Declines In May

07/20/2021 - 05:24:00 (RTTNews)

(RTTNews) - The euro area current account surplus declined in May, data from the European Central Bank showed on Tuesday.

The current account surplus dropped to a seasonally adjusted EUR 12 billion in May from EUR 22 billion in April. In the same period last year, the surplus totaled EUR 6 billion.

The surplus on goods trade remained unchanged at EUR 25 billion, while the surplus on services trade dropped to EUR 6 billion from EUR 9 billion.

The primary income showed a deficit of EUR 5 billion versus a surplus of EUR 1 billion in the previous month. The shortfall on secondary income widened to EUR 14 billion from EUR 13 billion.

During twelve months to May, the current account surplus rose to EUR 310 billion or 2.7 percent of the euro area GDP, up from EUR 228 billion or 2.0 percent a year earlier.

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