The euro area posted a current account surplus of €32 billion in May 2025, up from €19 billion in April, driven by stronger goods and services balances.

• In May, the goods surplus increased €2 billion to €33 billion, and the services surplus increased €6 billion to €13 billion.
• In May, the primary income balance increased €5 billion to €2 billion, while the secondary income balance was unchanged at -€16 billion.
• The 12-month current account surplus narrowed to €333 billion (2.1% of GDP) from €364 billion (2.5% of GDP) a year earlier, due to a swing in primary income (from +€34B to -€5B) and a larger secondary income deficit.
• Goods surplus rose to €378 billion (from €346B), while services surplus slipped to €146 billion (from €153B).
• Euro area residents made €758 billion in net portfolio investment purchases in the 12 months to May; non-residents purchased €744 billion in euro area assets.

• Direct investment reversed, with euro area residents investing €200 billion abroad in the 12 months to May 2025 vs -€215 billion in the 12 months to May 2024.
• Non-residents invested €126 billion in the 12 months to May 2025 vs -€398 billion the 12 months to May 2024.
• Net external assets of euro area MFIs increased €417 billion over the 12-month period, supported by current account strength and portfolio inflows.