In July 2017 the current account of the euro area recorded a surplus of €25.1 billion. In the financial account, combined direct and portfolio investment recorded net disposals of assets of €112 billion and net disposals of liabilities of €135 billion.
Current account
The current account of the euro area recorded a surplus of €25.1 billion in July 2017 (see Table 1). This reflected surpluses for goods (€26.4 billion), primary income(€10.9 billion) and services (€2.6 billion), which were partly offset by a deficit for secondary income (€14.8 billion).
The 12-month cumulated current account for the period ending in July 2017 recorded a surplus of €333.1 billion (3.0% of euro area GDP), compared with one of €373.3 billion (3.5% of euro area GDP) for the 12 months to July 2016 (see Table 1 and Chart 1). This development was due to decreases in the surpluses for goods (from €367.2 billion to €338.6 billion) and services (from €63.4 billion to €43.3 billion), and an increase in the deficit for secondary income (from €123.2 billion to €146.5 billion). These were partly offset by an increase in the surplus for primary income (from €65.9 billion to €97.6 billion). [...]
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