Eurozone current account surplus dips in April

[FRANKFURT] The eurozone's current account surplus dipped in April as imports into the 19-member currency bloc increased and the services surplus eased, European Central Bank data showed on Tuesday.

The working-day and seasonally adjusted surplus narrowed to 22.2 billion euros (S$34.371 billion) from 35.7 billion euros a month earlier. The rolling 12-month surplus eased to 3.2 per cent of the bloc's GDP from 3.4 per cent a year earlier. The unadjusted surplus dropped to 21.5 billion euros from 46.4 billion.

The ECB earlier said it expected the current account surplus to decline somewhat this year, partly on higher commodity - especially oil - prices. The bank expects a drop to 2.8 per cent of GDP from 3.4 per cent, and for the reading to hover around the lower level for some years.

REUTERS