Euro area current account records surplus in June

The current account balance of the euro area recorded a surplus of €35 billion ($40.6 billion) in June, the European Central Bank announced Wednesday.

The figure increased from a €26 billion surplus in the previous month.

The region recorded surpluses of €18 billion in goods, €17 billion in primary income and €16 billion in services.

A €16 billion deficit in secondary income partly offset these positive figures.

During the 12 months to June, the current account saw a surplus of €276 billion, which equals 1.7% of the euro area's gross domestic product.

The 12-month surplus fell from €305 billion, or 2% of gross domestic product, recorded one year earlier.

Euro area residents made net investments of €352 billion in non-euro area assets over the 12-month period.

Non-residents invested €71 billion in euro area assets during the same period.

The central bank also reported that the stock of reserve assets decreased to €1,755.4 billion in June from €1,872.8 billion in May.