In the 12-month period to May 2018, the current account recorded a surplus of €406 billion (3.6% of euro area GDP), compared with one of €360 billion (3.2% of euro area GDP) in the 12-month period to May 2017.

In the financial account, euro area residents made net acquisitions of foreign portfolio investment securities of €548 billion in the 12-month period to May 2018 (increasing from €476 billion in the 12 months to May 2017), while non-residents' net purchases of euro area portfolio investment securities amounted to €216 billion in the 12 months to May 2018 (up from €189 billion in the 12-month period to May 2017).