Financial News: Eurozone Current Account Surplus Remains Unchanged

Eurozone Current Account Surplus Remains Unchanged

07/19/2024 - 05:18:00 (RTTNews)

(RTTNews) - The euro area current account surplus remained unchanged in May, the European Central Bank reported Friday.

The current account balance showed a surplus of EUR 37 billion in May, which was unchanged from the previous month.

The visible trade surplus decreased to EUR 33 billion from EUR 37 billion, while the surplus on services trade increased to EUR 15 billion from EUR 11 billion.

Primary income rose to EUR 4 billion from EUR 1 billion, while the shortfall on secondary income widened to EUR 14 billion from EUR 13 billion.

In the twelve months to May, the current account surplus totaled EUR 349 billion or 2.4 percent of GDP compared to a balanced account a year ago.

In financial account, euro area residents' net acquisitions of non-euro area portfolio investment securities came in at EUR 513 billion and non-residents' net acquisitions of euro area portfolio investment securities stood at EUR 646 billion in the twelve months to May, data showed.

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