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July 20, 2023EURO AREA CURRENT ACCOUNT, MAY 2023 Month over month (May 2023 vs April 2023, seasonally adjusted)
The European Central Bank reported today that the Euro Area (EA20)
- Net current account surplus widened by €5.3 billion to €9.1 billion.
- Net goods trade surplus widened by €5.7 billion to €22.5 billion.
- Net services trade surplus widened by €2.2 billion to €6.3 billion.
- Net primary income deficit widened by €4.9 billion to €7.7 billion.
- Net secondary income deficit narrowed by €2.3 billion to €12.0 billion.
Exports of goods increased by 7.6% to €249.8 billion and imports of goods increased by 5.6% to €227.3 billion in May 2023 compared with the previous month. With exports increasing faster than imports, the goods trade balance widened to €22.5 billion.
Exports of services increased 1.3% to €109.6 billion and imports of services decreased 0.8% to €103.4 billion in May 2023 compared to the previous month, the services trade balance widened to €6.3 billion.
Primary income receipts increased by 8.3% to €86.3 billion and payments increased by 13.9% to €94.0 billion in May from April 2023, the primary income deficit widened to €7.7 billion.
Since April 2023, secondary income receipts grew by 9.2% to €14.6 billion and secondary income payments decreased by 3.8% to 26.7 billion in May, the secondary income deficit narrowed to €12.0 billion in May from €14.3 billion in April 2023.
REFERENCE
European Central Bank. Press Releases | Selected Current Account Data
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