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

October 04, 2019
EU AND EURO AREA BALANCE OF PAYMENTS, 2019Q2

EUROPEAN UNION

Eurostat reported today that in the European Union (EU28) in the second quarter of 2019, the current account surplus (seasonally adjusted) declined €6.6 billion to €40.9 billion. 

  • The goods surplus increased €15.8 billion to €32.4 billion
  • The services surplus decreased €21.6 billion to €25.7 billion
  • The primary income surplus declined €1.9 billion to €3.5 billion
  • The secondary income deficit narrowed by €1.1 billion to €20.7 billion

The current account surplus was 1.0 per cent of nominal GDP in the second quarter, down from 1.2 per cent in the previous quarter.

EURO AREA

In the Euro Area (EA19) the current account surplus declined €38.1 billion to €57.1 billion in the second quarter of 2019.

  • The goods surplus declined €6.1 billion to €79.4 billion
  • Net services declined €33.7 billion to change the services surplus to a €3.7 billion deficit
  • The primary income surplus declined €2.8 billion to €17.1 billion
  • The secondary income deficit narrowed by €4.4 billion to €35.7 billion.

Source: Eurostat



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