According to the report from European Central Bank, the current account of the euro area recorded a surplus of €8 billion in May 2020, decreasing by €6 billion from the previous month. Surpluses were recorded for goods (€17 billion), primary income (€5 billion) and services (€4 billion). These were partly offset by a deficit for secondary income (€18 billion).

In the 12-month period to May 2020, the current account recorded a surplus of €264 billion (2.2% of euro area GDP), compared with a surplus of €318 billion (2.7% of euro area GDP) in the 12 months to May 2019.

In the financial account, euro area residents made net acquisitions of foreign portfolio investment securities totalling €468 billion in the 12-month period to May 2020 (up from €72 billion in the 12 months to May 2019). Over the same period, non-residents made net acquisitions of euro area portfolio investment securities amounting to €355 billion (up from €132 billion).