Brussels, 23/01/2009 (Agence Europe) - According to the second revisions published on Thursday 22 January, the EU27 external current account recorded a deficit of €39.5 billion in the third quarter of 2008, compared with a deficit of €9.7 billion in the third quarter of 2007 and a deficit of €29.6 billion in the second quarter of 2008.
The deficit of the goods account increased significantly in third quarter of 2008 compared with the third quarter of 2007(-€64.0 billion euro compared with -€38.7 billion) and the surplus of the services account diminished (€19.3 billion compared with €23.5 billion). The surplus of the income account (€19.4 billion compared with €19.6 billion) remained virtually unchanged, as did the deficit of the current transfers account (-€14.3 billion compared with -€14.1 billion).
The surplus recorded in the services account (€19.3 billion) is mainly the result of surpluses in financial services (€8.1 billion), “other business services”, which includes miscellaneous business, professional and technical services (€7.9 billion), transport (€5.8 billion), and computer and information services (€4.7 billion), partially offset by deficits in travel (-€7.2 billion), and royalties and license fees (-€3.5 billion).
In the third quarter of 2008, the EU27 external current account recorded a surplus with the USA (€24.5 billion), Switzerland (€7.5 billion), Canada (€2.5 billion) and Brazil (€1.9 billion), and a deficit with China (-€41.9 billion), Russia (-€14.2 billion) and Japan (-€6.7 billion).
These provisional data may be revised are subject to revision, according to Eurostat. Publication of the first estimate for the fourth quarter of 2008 is scheduled for 11 March. (O.L./transl.rt)