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Eurozone Current Account Surplus Declines In May

Eurozone current account surplus declined in May largely due to a fall in primary income, the European Central Bank said Monday.

The current account surplus fell to a seasonally adjusted EUR 18 billion from EUR 24 billion in April.

The surplus on trade in goods decreased to EUR 23.9 billion from EUR 28.4 billion, while the surplus on services increased to EUR 6.3 billion from EUR 3.6 billion.

At the same time, primary income showed a surplus of EUR 1.1 billion versus a surplus of EUR 5.3 billion in April. The deficit on secondary income remained unchanged at EUR 13.3 billion.

On an unadjusted basis, the current account surplus decreased sharply to EUR 3.4 billion in May from EUR 22 billion in April.

The 12-month cumulated current account balance until May 2015 showed a surplus of EUR 253.4 billion, equivalent to 2.5 percent of euro area GDP, compared with a surplus of EUR 181.6 billion for the 12 months to May 2014.

In the financial account in May 2015, combined direct and portfolio investment registered increases of EUR 99 billion in assets and EUR 58 billion in liabilities.

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