Euro area current account surplus increased in August from the previous month, preliminary data from the European Central Bank showed on Friday.
The current account surplus rose to EUR 24 billion from EUR 19 billion in July. A year ago, the surplus was EUR 39 billion.
The visible trade surplus increased to EUR 22 billion from EUR 19 billion in the previous month, while the surplus in services trade decreased to EUR 9 billion from EUR 10 billion.
The balance in the primary income account grew to EUR 7 billion from EUR 9 billion, while the shortfall in the second income account narrowed to EUR 13 billion from EUR 14 billion.
In the 12 months to August, the current account surplus was EUR 379 billion, or 3.3 percent of Eurozone GDP, versus EUR 330 billion or 3.0 percent in the previous 12-month period.
This rise was due mainly to an increase in the surplus for services from EUR 71 billion to EUR 117 billion and a narrowing in the deficit for secondary income from EUR 149 billion to EUR 141 billion.
These were partly offset by a decline in the surplus for primary income from EUR 81 billion to EUR 77 billion. Meanwhile, the surplus for goods remained stable at EUR 327 billion.