Mubasher: The current account of the Eurozone increased by nearly EUR 5 billion in August, recording a surplus of EUR 24 billion, compared to a surplus of EUR 19 in July, data by the European Central Bank showed on Friday.

In the 12-month period to August 2018, the current account recorded a surplus of EUR 379 billion, making up 3.3% of the euro area’s gross domestic product (GDP), versus EUR 330 billion in the corresponding period of 2017, according to a press release.

Net acquisitions of foreign portfolio investment securities by Euro area residents fell to EUR 406 billion in the 12-month period from EUR 514 billion in the year-ago period.

Meanwhile, non-residents’ net purchases of euro area portfolio investment securities retreated to EUR 145 billion from EUR 208 billion in the 12-month period to August 2017, the press said.

Euro area residents directly invested around EUR 59 billion in non-euro area assets during the 12-month period, down from net investments of EUR 337 billion in the previous 12-month period, it added.

Non-residents’ net disinvestments of euro area assets amounted to EUR 126 billion in the 12-month period to August, compared to disinvestments of EUR 224 billion in the same period a year earlier.