This reflected surpluses for goods (€29.0 billion), services (€11.6 billion) and primary income (€3.4 billion), which were partly offset by a deficit for secondary income (€9.8 billion).

The 12-month cumulated current account for the period ending in March 2017 recorded a surplus of €363.6 billion (3.4% of euro area GDP), compared with one of €347.2 billion (3.3% of euro area GDP) for the 12 months to March 2016 (see Table 1 and Chart 1). This was due to increases in the surpluses for goods (from €353.8 billion to €364.7 billion) and primary income (from €48.5 billion to €79.3 billion). These were partly offset by a decrease in the surplus for services (from €72.3 billion to €54.8 billion) and an increase in the deficit for secondary income (from €127.3 billion to €135.3 billion).