This reflected surpluses for goods (€27.4 billion), primary income (€4.6 billion) and services (€2.2 billion), which were partly offset by a deficit for secondary income (€13.0 billion).

The 12-month cumulated current account for the period ending in June 2017 recorded a surplus of €336.5 billion (3.1% of euro area GDP), compared with one of €375.0 billion (3.5% of euro area GDP) for the 12 months to June 2016 (see Table 1 and Chart 1). This development was due to decreases in the surpluses for goods (from €369.0 billion to €341.1 billion) and services (from €63.3 billion to €46.5 billion), and an increase in the deficit for secondary income (from €120.0 billion to €144.8 billion). These were partly offset by an increase in the surplus for primary income (from €62.6 billion to €93.7 billion