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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

June 30, 2020
EU AND EURO AREA BALANCE OF PAYMENTS 2020Q1

EUROPEAN UNION

Eurostat reported today that in the European Union (EU27) in the first quarter of 2020, the current account surplus (seasonally adjusted) increased €10.5 billion to €103.6 billion. 

  • The goods surplus increased €45 million to €83.4 billion
  • The services surplus increased €9.9 billion to €22.5 billion
  • The primary income surplus declined €3.0 billion to €9.6 billion
  • The secondary income deficit narrowed by €3.5 billion to €11.9 billion

The current account surplus was 3.0 per cent of nominal GDP in the first quarter, up from 2.6 per cent in the previous quarter.

EURO AREA

In the Euro Area (EA19) the current account surplus increased €19.6 billion to €97.3 billion in the first quarter of 2020.

  • The goods surplus increased €4.9 billion to €93.0 billion
  • Net services surplus increased €15.2 billion to €15.9 billion 
  • The primary income surplus increased €254 million to €21.7 billion
  • The secondary income deficit widened by €863 million to €33.3 billion.

The current account surplus was 3.3 per cent of nominal GDP in the first quarter, up from 2.6 per cent in the previous quarter.

 

Source: Eurostat



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