July 20, 2020 / 8:34 AM / 23 days ago

Euro zone current account surplus narrows further in May

FILE PHOTO: Euro coins are seen in front of displayed flag and map of European Union in this picture illustration taken in Zenica, May 28 2015. REUTERS/Dado Ruvic/File Photo

FRANKFURT (Reuters) - The current account surplus of the 19 countries sharing the euro narrowed to 7.95 billion euros in May from 14.27 billion euros in April on a big outflow of secondary income, which includes transfers between residents and non-residents, ECB data showed on Monday.

In the 12 months to May, the bloc’s current account surplus fell to 2.2% of GDP from 2.7% in the preceding year, mostly on a big drop in the surplus on the trade of goods and services.

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Reporting by Balazs Koranyi; Editing by Francesco Canepa

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