Data from the European Central Bank showed that in June, the eurozone's current account surplus (seasonally adjusted) rose to 50.5 billion euros from 37.6 billion euros in May (revised from 36.7 billion euros). Surpluses were recorded for goods (39 billion euros), primary income (14 billion euros) and services (12 billion euros). These were partly offset by a deficit for secondary income (14 billion euros).
In the 12 months to June, the current account surplus was 370 billion euros (2.5% of eurozone GDP), compared with a surplus of 30 billion euros (0.2% of eurozone GDP) one year earlier. This development was mainly driven by a larger surplus for goods (up from 39 billion euros to 359 billion euros) and, to a lesser extent, by larger surpluses for primary income (up from 34 billion euros to 42 billion euros) and services (up from 127 billion euros to 134 billion euros), as well as a smaller deficit for secondary income (down from 169 billion euros to 165 billion euros).
In the financial account, in 12 months to June, euro area residents’ net acquisitions of non-euro area portfolio investment securities totalled 478 billion euros and non-residents’ net acquisitions of euro area portfolio investment securities totalled 612 billion euros.