The EU28 current account surplus of Euros 69.4 billion in Q3 2017

The EU28 seasonally adjusted current account of the balance of payments recorded a surplus of Euros 69.4 billion (1.8% of GDP) in the third quarter of 2017, up from a surplus of Euros 47.5 billion (1.2% of GDP) in the second quarter of 2017 and from a surplus of Euros 44.8 billion (1.2% of GDP) in the third quarter of 2016, according to estimates released by Eurostat, the statistical office of the European Union.

In the third quarter of 2017 compared with the second quarter of 2017, based on seasonally adjusted data, the surplus of the goods account increased (+Euros 43.1 bn compared to +Euros 34.1 bn), as did the surplus of the services account (+Euros 46.5 bn compared to +Euros 40.1 bn). The deficit of the primary income account turned into a surplus (+Euros 2.0 bn compared to -Euros 2.6 bn). The deficit of the secondary income account decreased (-Euros 22.1 bn compared to -Euros 24.2 bn), as did the deficit of the capital account (-Euros 6.4 bn compared to -Euros 13.4 bn).

According to data presented today by Eurostat, in Cyprus the current account balance of trade in services stood positive at 0.3 billion euro for the 3rd quarter compared to the 2nd quarter of 2017 and at 1.5 billion compared to the 3rd quarter of 2016.

In the third quarter of 2017, based on non-seasonally adjusted data, the EU28 recorded external current account surpluses with the USA (+Euros 46.3 bn), Switzerland (+Euros 18.2 bn), Brazil (+Euros 8.3 bn), Canada (+Euros 6.6 bn), Hong Kong (+Euros 6.0 bn) and offshore financial centres (+Euros 2.8 bn). Deficits were registered with China (-Euros 28.6 bn), Japan (-Euros 2.8 bn) and Russia (-Euros 1.5 bn), while there was a balance with India.

Source: Cyprus News Agency