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Eurozone Current Account Surplus Rises In August

The euro area current account surplus increased in August reflecting higher primary income and trade in services, the European Central Bank reported Friday.

The current account surplus increased to EUR 27 billion from EUR 22 billion in July.

The surplus on trade in goods remained unchanged at EUR 28 billion and the surplus on services rose to EUR 5 billion from EUR 2 billion a month ago.

Primary income totaled EUR 7 billion versus EUR 5 billion in August. At the same time, the deficit on secondary income held steady at EUR 14 billion.

In the 12-month period to August, the current account registered a surplus of EUR 312 billion or 2.7 percent of euro area GDP, compared with a surplus of EUR 398 billion in the 12 months to August 2018.

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