Mubasher: The Eurozone’s current account surplus recorded a further decline last May, but it recorded a gain on a 12-month basis.

The current account surplus of the euro area went down to EUR 22 billion ($25.6 billion) in May from a revised surplus of EUR 30 billion ($34.9 billion) in April, data released on Friday by the European Central Bank (ECB) showed.

Meanwhile, the surplus was EUR 406.7 billion in the 12 months ended May, accounting for 3.6% of the Eurozone’s gross domestic product (GDP), compared with EUR 360 billion in the same period last year.

Goods, services, and primary income showed surpluses of EUR 21 billion, EUR 8 billion, and EUR 3 billion, respectively in the fifth month of 2018, whereas secondary income registered a deficit of EUR 10 billion during the period.

By 8:19 am GMT, the EUR/USD pair inched up 0.06% to  $1.1649.