This reflected surpluses for goods (€25.1 billion), primary income (€8.2 billion) and services (€7.4 billion), which were partly offset by a deficit for secondary income (€18.5 billion).

The 12-month cumulated current account for the period ending in April 2017 recorded a surplus of €349.9 billion (3.2% of euro area GDP), compared with one of €358.6 billion (3.4% of euro area GDP) for the 12 months to April 2016 (see Table 1 and Chart 1). This development was due to decreases in the surpluses for services (from €70.4 billion to €57.8 billion) and goods (from €359.5 billion to €357.2 billion), and an increase in the deficit for secondary income (from €122.4 billion to €145.0 billion). These were partly offset by an increase in the surplus for primary income (from €51.1 billion to €79.9 billion).