Eurozone current account surplus reaches €6.8bn in June, largest since June 2021, up from deficit of €4.4bn a year ago

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Link Securities | According to data from the European Central Bank (ECB), the eurozone recorded a current account surplus of €36.8 billion in June, compared with a deficit of €4.4 billion in the same month a year earlier.

June’s surplus is the largest current account surplus achieved by the region since September 2021. This surplus was driven by the goods account, which went on to generate a surplus of €42.7 billion compared with the deficit of €8 billion generated in the same month last year. Moreover, the secondary income deficit narrowed to €12.5 billion from €15.7 billion in June 2022.

In contrast, primary income showed a deficit of €5.6bn in the month, compared to a surplus of €0.4bn generated in June 2022, while the services surplus narrowed to €12.1bn compared to €18.9bn in June 2022.

In 1H2023, the eurozone generated a current account surplus of €59.5 billion compared to a deficit of €42.1 billion in the same period of 2022.

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