The current account surplus in the Eurozone reached a three-month peak in April, primarily driven by trade in goods and services, as reported by the European Central Bank on Wednesday.
The surplus amounted to €39 billion, up from €36 billion in March, marking the highest figure since January.
According to the data, surpluses in goods, services, and primary income were partially offset by a deficit in secondary income.
The goods trade surplus increased to €38 billion from the previous €33 billion, and the services surplus rose to €11 billion from €5 billion. However, primary income dropped to €2 billion from €9 billion.
Secondary income, on the other hand, showed a deficit of €12 billion, compared to an €11 billion shortfall in the previous month.
Over the twelve months leading up to April, the current account surplus totaled €337 billion, which equates to 2.3% of GDP. This is a stark contrast to the €53 billion deficit recorded during the same period the previous year.
In the financial account, Eurozone residents' net acquisitions of non-euro area portfolio investment securities amounted to €433 billion, while non-residents' net acquisitions of euro area portfolio investment securities totaled €585 billion over the same twelve-month period.
