EU deficit rises

The EU25 external current account recorded a deficit of €21.2 billion in the second quarter of this year, as compared to a deficit of €6.5 billion in the second quarter of last year and a deficit of €18.4 billion in the first quarter of this year, Eurostat, the statistical arm of the EU reported.

Compared to the second quarter of last year, a higher surplus was recorded in the services account (+€15.3 billion compared to +€14.2 billion), while a higher deficit was recorded in both the goods account (-€14.1 billion compared to -€3.5 billion) and the income account (-€12.1 billion compared to -€8.6 billion).

The structural deficit in the current transfers account increased (-€10.2 billion compared to -€8.7 billion).