Financial News: Eurozone Current Account Surplus Increases

Eurozone Current Account Surplus Increases

(RTTNews) - The euro area current account surplus increased in May on higher primary income, the European Central Bank reported Friday.

The current account surplus rose to EUR 25 billion in May from EUR 17 billion in the previous month. In the same period last year, the surplus was EUR 26 billion.

The surplus on goods trade fell to EUR 16 billion from EUR 18 billion in the prior month. Likewise, the services surplus decreased to EUR 14 billion from EUR 15 billion.

Primary income increased to EUR 12 billion from zero balance. Meanwhile, the deficit in secondary income widened to EUR 18 billion from EUR 16 billion.

In the twelve months to May, the current account surplus totaled EUR 272 billion or 1.7 percent of GDP, down from EUR 318 billion or 2.0 percent a year earlier.

In the financial account, euro area residents' net acquisitions of non-euro area portfolio investment securities came in at EUR 889 billion and non-residents' net acquisitions of euro area portfolio investment securities stood at EUR 1 trillion in the twelve months to May.

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