World Economy

Eurozone Current A/C Surplus Rises

Eurozone Current A/C Surplus RisesEurozone Current A/C Surplus Rises

The eurozone current account surplus increased notably in April largely on higher primary income, figures from the European Central Bank showed Friday, Alliance News reported. The current account surplus totaled a seasonally adjusted €36.2 billion ($40.74 billion) in April compared to €26.3 billion in the prior month. The surplus on trade in goods rose to €31 billion from €30 billion. Meanwhile, the services surplus fell to €5.6 billion from €7.1 billion. At €8.3 billion, primary income logged a sharp increase from €2.1 billion in March. At the same time, the secondary income posted a deficit of €8.8 billion versus a shortfall of €12.9 billion in the prior month. On an unadjusted basis, the current account surplus climbed to €34 billion from €31.3 billion in the prior month. The 12-month cumulated current account for the period ending in April recorded a surplus of €329.4 billion or 3.1% of eurozone GDP, compared with €282.4 billion in the same period of last year.