Eurozone Current Account Surplus Near 1-Year Low

(RTTNews) - The euro area current account surplus fell to a near one-year low in April, the European Central Bank reported Wednesday.

The current account showed a surplus of EUR 20 billion in April compared to a EUR 51 billion surplus in March. This was the lowest since May 2023, when the surplus was EUR 16 billion.

Surpluses were registered for goods and services but both declined from the previous month. Meanwhile, the primary income account was balanced. The surplus on goods trade fell to EUR 30 billion from EUR 44 billion and the surplus on services decreased to EUR 7 billion from EUR 13 billion. Secondary income posted a shortfall of EUR 16 billion compared to a deficit of EUR 13 billion a month ago.

In the twelve months to April, the current account surplus widened to EUR 419 billion or 2.8 percent of euro area GDP, which was up from a surplus of EUR 339 billion or 2.3 percent of GDP a year earlier.