Eurozone Current Account Surplus At 10-Month Low … RTT
Eurozone Current Account Surplus At 10-Month Low
The euro area current account surplus declined to a 10-month low in April, the European Central Bank reported Tuesday.
The current account surplus fell to EUR 28.4 billion in April from EUR 32.8 billion in March.
This was the lowest surplus since June 2017.
The surplus on goods trade totaled EUR 21 billion versus EUR 30.3 billion in the previous month. Meanwhile, the surplus on services rose to EUR 9.6 billion from EUR 9.4 billion.
Primary income increased to EUR 8.5 billion from EUR 4.8 billion. At the same time, the deficit on secondary income narrowed to EUR 10.7 billion from EUR 11.7 billion a month ago.
On an unadjusted basis, the current account surplus declined sharply to EUR 26.2 billion from EUR 41.3 billion in March.
In the financial account, combined direct and portfolio investment recorded net acquisitions of assets of EUR 41 billion and net disposals of liabilities of EUR 20 billion.
The 12-month cumulated current account for the period ending in April registered a surplus of EUR 413.7 billion, or equivalent to 3.7 percent of euro area GDP, compared with EUR 361.3 billion in the twelve months
to April 2017.
by RTTNews Staff Writer