Eurozone Current Account Surplus Increases

(RTTNews) - The euro area current account surplus increased in June, reflecting the rise in primary income, the European Central Bank said Wednesday.

The current account surplus rose to EUR 35 billion from EUR 26 billion in May.

The surplus on goods trade remained unchanged at EUR 18 billion and the surplus on services trade increased to EUR 16 billion from EUR 15 billion.

Primary income climbed to EUR 17 billion from EUR 11 billion, and the shortfall on secondary income narrowed to EUR 16 billion from EUR 17 billion in May.

In the twelve months to June, the current account surplus totalled EUR 276 billion or 1.7 percent of euro area GDP, down from EUR 305 billion or 2.0 percent of GDP last year.

In financial account, euro area residents' net acquisitions of non-euro area portfolio investment securities totaled EUR 820 billion and non-residents' net acquisitions of euro area portfolio investment securities came in at EUR 1,123 billion in the twelve months to June.