CCIR

I TWEET

The EU28 seasonally adjusted current account of the balance of payments recorded a surplus of €63.9 billion (1.6% of GDP) in the first quarter of 2018, down from a surplus of €68.0 billion (1.8% of GDP) in the fourth quarter of 2017 and up from a surplus of €43.9 billion (1.2% of GDP) in the first quarter of 2017, according to estimates released by Eurostat, the statistical office of the European Union. In the first quarter of 2018 compared with the

fourth quarter of 2017, based on seasonally adjusted data, the surplus of the goods account decreased (+€34.7 bn compared to +€41.1 bn), as did the surplus of the services account (+€47.5 bn compared to +€49.9 bn). The primary income account turned from deficit into a surplus (+€2.3 bn compared to -€1.6 bn). The deficit of the secondary income account dropped (-€20.6 bn compared to -€21.5 bn), as did the deficit of the capital account (-€1.9 bn compared to -€4.2 bn).

Main partners.   In the first quarter of 2018, based on non-seasonally adjusted data, the EU28 recorded external current account surpluses with the USA (+€60.8 bn), Switzerland (+€21.7 bn), Brazil (+€7.9 bn), Canada (+€7.2 bn), Hong Kong (+€6.5 bn) and India (+€0.1 bn). Deficits were registered with China (-€30.2 bn), Russia (-€12.3 bn), offshore financial centres (-€5.5 bn) and Japan (-€2.8 bn).

Financial account.  Based on non-seasonally adjusted data, direct investment assets of the EU28 increased in the first quarter of 2018 by €52.1 bn, while direct investment liabilities decreased by €18.0 bn. As a result, the EU28 was a net investor of direct investment in the first quarter of 2018 by €70.1 bn. Portfolio investment recorded a net outflow of €58.7 bn, and for other investment there was a net inflow of €85.8 bn.

 

 

 

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