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Eurozone current account surplus rises in April

Staff writer |
The euro area current account surplus increased notably in April largely on higher primary income, figures from the European Central Bank showed.

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The current account surplus totaled a seasonally adjusted EUR 36.2 billion in April compared to EUR 26.3 billion in the prior month.

The surplus on trade in goods rose to EUR 31 billion from EUR 30 billion. Meanwhile, the services surplus fell to EUR 5.6 billion from EUR 7.1 billion.

At EUR 8.3 billion, primary income logged a sharp increase from EUR 2.1 billion in March. At the same time, the secondary income posted a deficit of EUR 8.8 billion versus a shortfall of EUR 12.9 billion in the prior month.

On an unadjusted basis, the current account surplus climbed to EUR 34 billion from EUR 31.3 billion in the prior month.

The 12-month cumulated current account for the period ending in April recorded a surplus of EUR 329.4 billion or 3.1 percent of euro area GDP, compared with EUR 282.4 billion in the same period of last year.

In April, combined direct and portfolio investment recorded an increase of EUR 99 billion in assets and a decrease of EUR 30 billion in liabilities.

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