The eurozone’s current account showed a noticeably larger surplus in June. The balance rose from around 8 billion in the previous month to around 36 billion euros, as the European Central Bank announced in Frankfurt on Tuesday.
The surplus in the trade balance rose particularly sharply. But the surplus in the services account and the primary income account also increased. The transfer of income from work and property is shown in the primary balance of income. In the secondary income account, however, the deficit widened. For example, transfers to international organizations and development aid are shown here.
The current account primarily shows trade in goods and services as well as income transfers. It represents the economic exchange of the euro zone with countries outside the currency area. Last year, the balance slipped significantly into the red at times, which was mainly due to much more expensive energy imports as a result of the Ukraine war. In the meantime, however, energy prices have fallen again. (dpa)