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EU current account deficit at 21.4 bn euro

Thursday 19 January 2012

According to estimates published by Eurostat, on 19 January, the EU27 external current account recorded a deficit of €21.4 billion in the third quarter of 2011, compared with a deficit of €22.3 billion in the third quarter of 2010. There was an increase in the deficit of the goods account (-€35.1 bn compared with -€31 bn) and the current transfers account (-€16.7 bn compared with -€15.6 bn). The surplus of the income account decreased (+€0.6 bn compared with +€1.5 bn), while the surplus of the services account rose (+€29.8 bn compared with +€22.8 bn). The EU27 external current account recorded a surplus with Switzerland (+€15.8 bn), the United States (+€13.9 bn), Hong Kong (+€5.9 bn), Brazil (+€4.1 bn), Canada (+€2.8 bn) and India (+€1 bn), and a deficit with China (-€35.7 bn), Russia (-€9.9 bn) and Japan (-€5.4 bn).



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