The euro zone recorded another current account deficit in April as surging oil and gas prices due to Russia's war in Ukraine have created an exceptional drag on trade, European Central Bank data showed today.

The bloc of 19 countries sharing the euro recorded a current account deficit of €5.8 billion.

This was above a €1.6 billion deficit a month earlier and compared to €31.1 billion surplus a year earlier, according to adjusted figures.

In the 12 months to April, the current account surplus narrowed to 1.5% of the bloc's GDP from 2.7% in the preceding 12 months