The current account of the euro zone showed a higher surplus in May. The balance rose from around 4 billion euros in the previous month to around 9 billion euros, as the European Central Bank announced on Thursday in Frankfurt. The development is mainly due to the trade and services balances, which widened their surpluses. The income accounts were in deficit.
The current account 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)
