Eurozone Current Account Surplus Drops Further

The current account surplus of the 19 European Union countries shrank to 7.95B Euros in May from 14.27 in April on a large outflow of secondary income, includes transfers between residents and non-residents.

In the 12 months to May, the Eurozone current account surplus fell to 2.2% of GDP from 2.7% in the previous year and most of the decline was due to the surplus in trade in goods and services.

ECB:

In the 12-month period to May 2020, the current account recorded a surplus of €264 billion (2.2% of euro area GDP), compared with a surplus of €318 billion (2.7% of euro area GDP) in the 12 months to May 2019.