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Eurozone current account surplus shrinks in April

Eurozone current account surplus shrinks in April

Mubasher: The Eurozone’s current account surplus contracted in April compared with March, while posting 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 21 billion ($23.53 billion) last April, less than EUR 25 billion in the preceding month, the European Central Bank’s data (ECB) said on Wednesday.

The surplus declined to EUR 315 billion in the 12 months ended last April, accounting for 2.7% of the Eurozone’s gross domestic product (GDP), compared with EUR 391 billion in the comparable period last year.

Goods, services, and primary income posted surpluses of EUR 22 billion, EUR 6 billion, and EUR 4 billion, respectively during April.

Such gains were partially offset by a deficit of EUR 12 billion for secondary income.

By 8:54 am GMT, the EUR/USD pair went up by 0.04% to $1.1199.