Eurozone posts $20.5B current account surplus in June

Eurozone posts $20.5B current account surplus in June

WAAR_DUHOK

 

The European Central Bank announced that the eurozone saw a current account surplus of €18 billion ($20.5 billion) in June.

Current account surplus was €30 billion ($33.3 billion) in May and €24 billion ($27.8 billion) in June a year earlier, according to official figures.

Meanwhile, the current account posted a surplus of €318 billion ($362.5 billion) in the 12-month period to June.

The 12-month surplus also narrowed versus €391 billion ($453.5 billion) in the same period last year.

The surplus in the 12-month period was 2.7% of the eurozone’s GDP, while this ratio was 3.4% in the same period in 2018.

On the financial account side, the eurozone residents’ net acquisitions of foreign portfolio investment securities amounted €58 billion ($66.1 billion) in the 12-month period to June 2019, down significantly from €484 billion ($561.44 billion) in the same period previous year.

“Non-residents’ net purchases of euro area portfolio investment securities amounted to €42 billion [$47.9 billion], down from €249 billion [$288.8 billion],” the bank added.

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