EU current account surplus €29.1bn

The EU external current account recorded a surplus of EUR 29.1 billion in the first quarter of 2013, compared with a deficit of EUR 1.5 billion in the first quarter of 2012, according to figures released Thursday by Eurostat, the EU's statistical office. In the first quarter of 2013, the EU external current account recorded a surplus with the USA of EUR 29.0 billion, Switzerland EUR 15.9 billion, EUR Brazil 8.1 billion, Hong Kong EUR 7.9 billion, EUR Canada 5.0 billion and India 0.3 billion, and a deficit with China of EUR 25.7 billion, Russia EUR 18. 0 billion and Japan EUR 2.4 billion. In the first quarter of 2013, compared with the first quarter of 2012, the deficit of the goods account was significantly reduced to EUR 0.1 billion compared with EUR 2.8 billion, while the surplus of the income account decreased slightly to EUR 15.9 billion compared with EUR 17.7 billion. The surplus of the services account remained nearly stable with EUR 32.4 billion compared with EUR 31.9 billion, as did the deficit of the current transfers account of EUR 19.0 billion compared with EUR 18.4 billion.