Eurozone current account surplus rose in May

Data from the European Central Bank showed on Thursday that the eurozone’s current account surplus rose in May, with an increase in the goods and services trade surplus.

According to Reuters, on the basis of adjusted data, the euro zone, which includes 20 countries, recorded a surplus of 9.1 billion euros, compared to 3.8 a month ago, while unadjusted data showed a deficit of 11.3 billion euros, after a surplus of 4.3 billion euros. ,

In the 12 months ending in May, the current account of the bloc recorded a deficit of 0.4% of GDP after a surplus of 1.3% from the previous 12 months.

The eurozone achieved a large surplus for several years until the Russian war in Ukraine caused an increase in energy import prices.

However, the huge deficit recorded last year as a result of high energy prices has been reduced to a large extent at the present time as the euro area has recorded a surplus every month since November.