20.10.201704:36:00UTC+00Eurozone Current Account Surplus Rises In August

The euro area current account surplus rose to the highest level in more than a year in August, the European Central Bank said Friday.

The current account surplus rose to EUR 33.3 billion in August from EUR 31.5 billion in July. This was the highest since May 2016.

The surplus on trade in goods increased to EUR 28.2 billion from EUR 26.5 billion in the previous month. Meanwhile, the surplus on services declined to EUR 7.2 billion from EUR 8.1 billion.

Likewise, primary income fell to EUR 10.3 billion from EUR 11.7 billion a month ago.

At the same time, secondary income showed a shortfall of EUR 12.4 billion versus EUR 14.8 billion in the previous month.

On an unadjusted basis, the current account surplus fell to EUR 29.6 billion from EUR 37.1 billion in July.

The 12-month cumulated current account for the period ending in August registered a surplus of EUR 338.5 billion, equivalent to 3.1 percent of euro area GDP.

In the financial account, combined direct and portfolio investment recorded net acquisitions of assets of EUR 82 billion and net disposals of liabilities of EUR 7 billion.