EU28 current account surplus €17.8 bn

EU28 current account surplus €17.8 bn

EU28 current account surplus €17.8 bn

The FINANCIAL -- The EU28 seasonally adjusted current account of the balance of payments recorded a surplus of €17.8 bn in December 2016, compared with surpluses of €16.2 bn in November 2016 and €11.4 bn in December 2015, according to estimates from Eurostat, the statistical office of the European Union.

In December 2016, compared with November 2016, based on seasonally adjusted data, the surplus of the goods account increased (+€12.9 bn compared with +€10.4 bn), while the surplus of the services account dropped (+€11.2 bn compared with +€12.1 bn). The surplus of the primary income account fell (+€0.0 bn compared with +€0.4 bn) as did the deficit of the secondary income account (-€6.3 bn compared with -€6.6 bn).

The 12-month cumulated current account for the period ending in December 2016 recorded a surplus of €199.9 bn, compared with €144.1 bn for the 12 months to December 2015. The surplus of the goods account for the same period increased (+€148.5 bn compared with +€110.9 bn) and the deficit of the primary income account decreased (-€10.0 bn compared with -€33.2 bn). The surplus of the services account fell (+€139.9 bn compared with +€142.9 bn) and the deficit of the secondary income account grew slightly (-€78.5 bn compared with -€76.5 bn).