The euro area current account surplus increased in July on higher primary income, the European Central Bank reported Tuesday.
The current account surplus increased to a seasonally adjusted EUR 25.1 billion in July from EUR 22.8 billion in June.
The primary income more than doubled to EUR 10.9 billion from EUR 5.1 billion in June. However, the deficit on secondary income widened to EUR 14.8 billion from EUR 12.9 billion.
The surplus on trade in goods fell to EUR 26.4 billion from EUR 28.1 billion a month ago. Meanwhile, the surplus on services increased to EUR 2.6 billion from EUR 2.4 billion.
In the financial account, combined direct and portfolio investment recorded net disposals of assets of EUR 112 billion and net disposals of liabilities of EUR 135 billion.
During twelve months ended July, cumulated current account surplus was EUR 333.1 billion or 3.0 percent of euro area GDP.
Source: RTT News