The euro area current account surplus increased sharply in May largely due to the rise in services surplus, the European Central Bank reported Friday.
The current account balance showed a surplus of EUR 32.3 billion in May compared to a surplus of EUR 18.6 billion in April.
Data showed that surpluses were recorded for goods, services and primary income, while secondary income was in deficit.
The surplus on goods trade rose moderately to EUR 33 billion from EUR 31 billion in April. At the same time, the surplus on services trade nearly doubled to EUR 13 billion from EUR 7 billion.
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