Germany's current account surplus down to $7.8B in April

By Aysu Bicer

ANKARA (AA) - Germany's current account surplus shrank significantly to €7.4 billion ($7.8 billion) in April, compared to €23 billion ($24 billion) the same month last year, the country’s central bank said on Friday.

The reading reflected a sharp drop in the goods surplus to €2 billion from €16.7 billion a year earlier and the services account switched to a deficit of €0.7 billion, compared with a surplus of €2.1 billion, according to Deutsche Bundesbank.

On the other hand, the primary income surplus went up to €10.7 billion from €6.5 billion while the secondary income deficit widened to €4.6 billion from €3.9 billion.