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The current account of the euro area recorded a surplus of €28.2 billion in June 2016. This reflected surpluses for goods (€32.9 billion) and services (€5.3 billion), which were partly offset by a deficit in secondary income (€10.1 billion). The primary income account was close to balance.
The 12-month cumulated current account for the period ending in June 2016 recorded a surplus of €347.8 billion (3.3% of euro area GDP), compared with one of €302.1 billion (2.9% of euro area GDP) for the 12 months to June 2015 (see Table 1 and Chart 1). This development was mostly due to an increase in the surplus for goods (from €306.6 billion to €368.4 billion) and to a decrease in the deficit for secondary income (from €134.8 billion to €123.4 billion). These were partly offset by decreases in the surpluses for both primary income (from €64.0 billion to €40.4 billion) and services (from €66.4 billion to €62.5 billion).
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