Sharp rise in euro zone’s current account surplus
The euro zone’s current account surplus jumped to €19.5 billion in April, according to the latest data from the European Central Bank.
The Euro area balance of payments account is a closely tracked indicator of the ability of a country or area to pay its way in the world.
It had recorded a surplus of €9.1 billion in March, having been in deficit in February.
The surplus in April came about due to a goods surplus of €18.1 billion, a services surplus of €8.2 billion and an income surplus of €4.4 billion.
However the figure was somewhat offset by a €11.3 billion deficit for current transfers.
According to the ECB figures, the seasonally adjusted cumulated account for the year to April recorded a surplus of €166.5 billion. This compares to a surplus of €40.5 billion for the previous 12 months.