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Workers maintain the huge Euro logo next to the headquarters of the European Central Bank (ECB) in Frankfurt. (RALPH ORLOWSKI/REUTERS)
Workers maintain the huge Euro logo next to the headquarters of the European Central Bank (ECB) in Frankfurt. (RALPH ORLOWSKI/REUTERS)

Euro zone current account surplus grows in June Add to ...

The euro zone’s current account surplus grew to €12.7-billion ($15.7-billion U.S.) in June from €10.3-billion the previous month, European Central Bank data showed on Friday.

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

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It is crucial for the long-term confidence of investors and trading partners.

Over the 12 months to June, the current account showed a surplus of €49.9-billion, compared with a deficit of €18.8billion in the corresponding period a year earlier, the data showed.

Separately, the EU statistical agency Eurostat said the euro zone’s surplus in the trade of goods surged to €14.9-billion according to preliminary figures, from €200-million the previous month.

Exports rose by 2.4 per cent in June from May, according to seasonally corrected figures, while imports remained stable.

For the first half of the year the euro zone had a goods trade surplus of €26.6-billion, compared to a €23.0-billion deficit during the same period in 2011. A surge in exports outpaced an increase in imports.

For the full 27-member EU, the surplus in the trade in goods was €400-million, compared to a deficit of €3.8-billion in May.

In the first half of the year it had a goods trade deficit of €60-billion, down from €95.4-billion in the same period in 2011.

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