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Eurozone Current Account Surplus Declines In March

The euro area current account surplus declined in March largely due to a fall in primary income, data from the European Central Bank showed Monday.

The current account surplus dropped to a seasonally adjusted EUR 25 billion from EUR 28 billion in February.

The visible trade surplus decreased to EUR 24 billion from EUR 26 billion, while services surplus rose to EUR 8 billion from EUR 7 billion.

At the same time, primary income halved to EUR 4 billion from EUR 8 billion. The secondary income showed a shortfall of EUR 11 billion compared to a deficit of EUR 13 billion in February.

In the 12-month period to March, the current account registered a surplus of EUR 328 billion or 2.8 percent of euro area GDP, down from EUR 376 billion or 3.3 percent of GDP in the same period last year.

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