Brussels: The eurozone's current account surplus recorded a strong increase in May, reaching pound 32.3 billion, up from pound 18.6 billion in April, according to data released Friday by the European Central Bank.
According to Bahrain News Agency, the rise was driven by a significant increase in the services trade surplus, which nearly doubled to pound 13 billion from pound 7 billion. The goods trade surplus rose slightly to pound 33 billion, while the primary income balance shifted from a pound 3 billion deficit in April to a pound 2 billion surplus. The secondary income balance remained in deficit at pound 16 billion.
Over the 12 months to May, the eurozone's current account surplus totalled pound 333 billion, or 2.1% of GDP, compared to pound 364 billion (2.5% of GDP) during the same period last year.