The eurozone’s current account surplus rose to 25 billion euros in May
Brussels, July 17, 2026 – The European Central Bank announced that the current account surplus of the Eurozone rose to 25 billion euros in May 2026, compared to 17 billion euros in April, supported by a surplus in trade in goods and services and primary income.
The bank explained, in a statement issued today, that the goods trade surplus amounted to 16 billion euros, while services recorded a surplus of 14 billion euros, and primary income achieved a surplus of 12 billion euros, while secondary income recorded a deficit of 18 billion euros.
On the basis of the twelve months ending May 2026, the current account surplus amounted to €272 billion, equivalent to 1.7% of euro area GDP, down from €318 billion or 2.0% of GDP during the same period of the previous year.
This decline is mainly due to a decline in the goods trade surplus and a widening of the secondary income deficit, despite the improvement in the primary income surplus and the rise in the services surplus.
In the financial account, the data showed that residents of the euro zone made net investments in securities outside the region worth 889 billion euros during the twelve months ending in May, while net investments of non-residents in euro zone securities amounted to 1.005 trillion euros during the same period.
Net direct investments of residents in assets outside the euro area also increased to 335 billion euros, compared to 164 billion euros a year ago, while direct investments of non-residents in assets of the euro area increased to 64 billion euros, compared to 5 billion euros a year ago.
The European Central Bank indicated that the enhanced net external assets of monetary financial institutions in the euro area rose by 225 billion euros during the twelve months ending in May, supported by the current and capital account surplus and investment flows.
On the other hand, the balance of reserves of the European system of central banks decreased to 1.873 trillion euros at the end of May, compared to 1.888 trillion euros in the previous month, as a result of the negative effects of price changes, especially the price of monetary gold, despite the contribution of net asset purchases and the rise in exchange rates in reducing this decline.
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