# Euro zone current account deficit widens again on large energy bill
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-07-20
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Euro Zone's Current Account Deficit Widens Amid Rising
Meta Description: Euro zone's current account deficit widened in May due to rising import bill, impacting surplus. Find out more from European Central Bank data.
URL: https://financedigest.com/euro-zone-current-account-deficit-widens-again-on-large-energy-billhtml

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FRANKFURT (Reuters) – The euro zone’s current account deficit widened further in May as the bloc’s import bill continued to rise on soaring energy costs, European Central Bank data showed on Wednesday.

The 19-country currency bloc has run a large current account surplus for the past decade thanks to massive exports of goods and services but its fortunes have turned around since Russia’s war in Ukraine pushed up its import bill for raw materials from natural gas to metals.

The adjusted current account deficit widened to 4.49 billion euros in May from 3.91 billion euros in April. A year earlier, the bloc’s surplus was 27 [billion euros](https://www.financedigest.com/eu-seeks-clarification-on-italy-post-covid-plan-freezes-19-billion-euros.html "EU seeks clarification on Italy post-COVID plan, freezes 19 billion euros").

In the 12 months to May, the [current account surplus](https://www.financedigest.com/euro-zone-current-account-swings-back-to-a-surplus-in-june.html "Euro zone current account swings back to a surplus in June") narrowed to 1.1% of GDP from 3.0% in the preceding year.

(Reporting by Balazs Koranyi; Editing by Francesco Canepa)


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