Eurozone Current Account Surplus Jumps by More Than Half in June

The eurozone’s current account surplus more than halved in June compared to the previous month, driven by an increase in the services trade surplus.

According to data from the European Central Bank on Thursday, August 19, the bloc, which includes 19 countries that deal in the euro, recorded a current account surplus of 21.8 billion euros in June, up from 13.9 billion euros in May, according to revised figures.

In the 12 months to June, the current account surplus reached 2.8%of GDP, up from 25 in the preceding 12-month period.

The European Union’s statistics office, Eurostat, said Tuesday, August 17, that the eurozone economy grew by 2% in the second quarter of the year, as the easing of restrictions linked to the Coronavirus stimulated economic activity after a brief recession.