Eurozone Current Account Surplus Shrank in June

Data from the European Central Bank showed that the revised current account surplus of the 19 Eurozone countries shrank to 16.6 billion Euros in July from 20.7 billion Euros in June, as a decline in the primary income account eroded the impact of an increase in the trade surplus.

In the twelve months to June, the bloc’s current account surplus decreased to 2.2% of GDP from 2.6% in the previous twelve months, mainly due to the decline in the surplus from trade in services and the decline in primary income flows, which include profits from External investments.