Eurozone current account surplus rises in May: ECB

19th July 2012, Comments 0 comments

The eurozone's current account surplus grew to 10.9 billion euros ($13.4 billion) in May from 5.5 billion euros the previous month, European Central Bank data showed on Thursday.

The current account on the balance of payments, which includes imports and exports in both goods and services plus all other current transfers, is a closely tracked indicator of the ability of a country or area to pay its way in the world.

It is crucial for the long-term confidence of investors and trading partners.

Over the 12 months to May, the current account showed a surplus of 36.3 billion euros, compared with a deficit of 17.0 billion euros in the corresponding period a year earlier, the data showed.

© 2012 AFP

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