BRUSSELS, 7th October, 2023 (WAM) — In the second quarter of 2023 (Q2’23), the European Union (EU) seasonally adjusted current account of the balance of payments recorded a surplus of pound 73.0 billion (+1.7% of GDP), compared with a surplus of pound 60.6 billion (+1.5% of GDP) in Q1’23 and a deficit of pound 32.6 billion (-0.8% of GDP) in Q2’22, according to estimates released by Eurostat, the EU statistical office.
In the second quarter of 2023 compared with the first quarter of 2023, based on seasonally adjusted data, the surplus of the goods account increased (+pound 52.7 bn compared to +pound 41.4 bn), while the surplus of the services account decreased (+pound 33.7 bn compared to +pound 39.9 bn). The surplus of the primary income account increased (+pound 6.9 bn compared to +pound 1.9 bn) and the deficit of the secondary income account decreased (-pound 20.3 bn compared to -pound 22.6 bn). During the same period, the deficit of the capital account decreased (-pound 6.8 bn compared to -pound 9.7 bn
).
Tariq Al Fahaam/ Amjad Saleh
Source: Emirates News Agency