Mubasher: The Eurozone’s current account surplus expanded in May compared with April, but saw a year-on-year drop over the 12-month period ended the reported month.

The current account surplus of the Eurozone came in at EUR 30 billion ($33.72 billion) last May, more than EUR 22 billion in the prior month, the European Central Bank’s data (ECB) said on Friday.

Goods, services, and primary income posted surpluses of EUR 27 billion, EUR 8 billion, and EUR 45 billion, respectively during May.

Such gains were partially offset by a gap of EUR 10 billion for secondary income.

However, the surplus shrank to EUR 323 billion in the 12 months ended last May, accounting for 2.8% of the Eurozone’s gross domestic product (GDP), compared with EUR 392 billion in the same period last year.

By 8:26 am GMT, the EUR/USD pair fell by 0.17% to $1.1258.