Brussels, 26/07/2002 (Agence Europe) - The European Central Bank (ECB) announced on Friday that the eurozone "current account balance showed a small surplus of EUR 0.1 billion in May 2002 compared with a deficit of EUR 2.2 billion in May 2001". In a press release, the ECB reports that combined direct and portfolio investment in the eurozone "experienced large net inflows of EUR 37.1 billion in May 2002" (up from EUR 19.3 billion in April 2002), "owing mainly to high net inflows in portfolio investment (EUR 32.0 billion)." The ECB explains that the increase in investment in the eurozone (following a massive loss of investment last year) contributed to the euro's rise in 2002. "On a cumulated basis during the first five months of 2002, combined direct and portfolio investment recorded net outflows which were substantially lower (EUR 15.3 billion) than during the same period in 2001 (EUR 123.9 billion).