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Eurozone monthly current account surplus drops

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(Globalpost/GlobalPost)

The eurozone's current account surplus narrowed sharply to 19.5 billion euros ($25.8 billion) in April from 25.9 billion euros in March, European Central Bank data showed on Friday.

However, over the 12 months to April, the current account showed a greatly increased surplus of 166.5 billion euros, compared with a surplus of 40.5 billion euros a year earlier, the data showed.

The current account on the balance of payments, which includes payments for imports and exports in both goods and services plus all other current transfers, is a closely tracked indicator of the ability of a country or area to pay its way in the world.

It is crucial for the long-term confidence of investors and trading partners.

kjm/dlc

http://www.globalpost.com/dispatch/news/afp/130621/eurozone-monthly-current-account-surplus-drops