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Eurozone current account surplus lowest since late 2014

Staff Writer |
The Eurozone current account surplus declined to the lowest level in more than two years in April, figures from the European Central Bank showed Tuesday.

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The current account surplus fell to EUR 22.2 billion in April from EUR 35.7 billion in March. This was the lowest since November 2014, when the surplus totaled EUR 21.65 billion.

The surplus on goods trade declined to EUR 25.1 billion from EUR 30 billion. Likewise, the surplus on services came in at EUR 7.4 billion versus EUR 11.7 billion in the previous month.

Meanwhile, primary income more than doubled to EUR 8.2 billion from EUR 3.7 billion. At the same time, secondary income showed a shortfall of EUR 18.5 billion compared to -EUR 9.8 billion in March.

On an unadjusted basis, the current account surplus plunged to EUR 21.5 billion from EUR 46.4 billion in March.

The 12-month cumulated current account for the period ending April 2017, showed a surplus of EUR 349.9 billion, which was equivalent to 3.2% of euro area GDP.

In April, combined direct and portfolio investment recorded net acquisitions of assets of EUR 71 billion and net incurrences of liabilities of EUR 1 billion.

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