Eurozone current account surplus narrowed in July
- Buz Traders Eurozone current account surplus In July, the seasonally adjusted current account surplus in the Eurozone dropped to €21.00 billion, following a revised current account surplus of €29.50 billion in the prior month.
- The 19-member currency bloc’s adjusted current account surplus shrank to 21.0 billion euros ($23.4 billion) in July from 29.5 billion euros a month earlier while unadjusted direct and portfolio investments jumped to 72.1 billion euros from 6.0 billion in June.
- Net portfolio investments, surging to 52.8 billion euros from 11.6 billion euros, accounted for the bulk of the increase but direct investments also contributed significantly, rising to a net inflow of 19.3 billion euros from an outflow of 5.6 billion euros in June.
Eurozone current account surplus narrowed again in July
Eurozone current account surplus The current account balance, a broad measure of an economy’s international financial position, fell to a surplus of 16.9 billion euros ($22.6 billion) in July, following an upwardly revised EUR19.8 billion in June. The data are adjusted for seasonal effects and consider the number of working days each month.
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Eurozone current account surplus
The currency bloc’s surplus in trade of goods rose slightly to EUR13.5 billion in July from EUR12.3 in June, suggesting the euro zone continues to export more than it imports. Austerity policies in weaker euro-zone economies have put pressure on products imported for domestic consumption, forcing economies to turn to export markets for growth.
The euro-zone economy grew in the second quarter of this year, ending 18 months of economic contraction. ECB President Mario Draghi said earlier this month that the 17-nation currency zone should recover gradually for the remainder of this year and next year.
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