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June 24, 2017

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Eurozone's surplus on its current account grows to 21.5 bil. euros

BERLIN--The eurozone's current account surplus grew to 21.5 billion euros (US$29.3 billion) in April, European Central Bank (ECB) data showed Friday.

The monthly figure is higher than a surplus of 19.6 billion euros in March, according to revised data.

The current account on the balance of payments, which includes payments for 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.

It is crucial for the long-term confidence of investors and trading partners and an important factor in the value of a currency, in this case the euro, on the foreign exchange market.

Over the 12 months to April, the current account showed a surplus of 248.7 billion euros, compared to 177.7 billion euros a year earlier, the data showed.

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