The euro zone current account surplus was €2.6 billion in July compared with a deficit of 0.2 billion a year earlier, the European Central Bank (ECB) said this morning.
The ECB said the move into surplus came largely from an increase in the goods surplus to €14.2 billion from €10.9 billion in July last year, offsetting a decrease in the services surplus and an increase in the income deficit.
It said seasonally adjusted data shows exports and imports of goods (in value terms) both fell in July 2002 compared with June.
In the financial account, combined direct and portfolio investment in the euro area recorded net inflows of €10.6 billion in July.
Direct investment in the euro area experienced net outflows of €3.6 billion, whereas portfolio investment registered net inflows of €14.2 billion, the ECB said.
PA