Euro zone current account surplus plunged at height of crisis

FILE PHOTO: European Union flags fly outside the European Commission headquarters in Brussels, Belgium, February 19, 2020. Picture taken February 19, 2020 REUTERS/Yves Herman/File Photo

FRANKFURT (Reuters) – The current account surplus of the 19 countries sharing the euro nearly halved in April as lockdowns at the height of the coronavirus pandemic cut deep into exports, European Central Bank data showed on Friday.

The euro zone’s adjusted current account surplus fell to 14.4 billion euros in April from 27.4 billion euros in March as the trade surplus fell by more than half.

Over the past 12 months, the surplus equalled 2.8% of the bloc’s GDP, the same as in the preceding 12 months.