Portugal’s economy posted an external surplus of €2.683 billion up to May, 5.6 times the €476 million surplus recorded in the same period last year, the country’s central bank (Bank of Portugal) announced on today. Despite this year-on-year growth, however, the current and capital account balance fell by €587 million compared to April, according to the bank’s data. Last year, between April and May there was a gain of around €9 million, which means that in year-on-year terms there was ‘a decrease of €596 million’ in the monthly balance of current and capital accounts.
External surplus of €2.68 billion up till May
Mário Centento, governor of the Bank of Portugal
