EU third quarter current account surplus at €72.1 billion

January 13, 2022

According to Eurostat’s recent report, the EU third quarter of 2021, seasonally adjusted current account balance recorded a surplus of €72.1 billion, which is 2.0% of GDP. This represents a decrease of €31 billion, from the second quarter surplus of €103.1 billion, which was 2.9% of the GDP. Also, €16 billion less than 2020 third quarter current account surplus of €88.1 billion which was 2.6% of GDP.

Eurostat noted, “in the third quarter of 2021 compared with the second quarter of 2021, based on seasonally adjusted data, the surplus of the goods account decreased (+€53.4 bn compared to +€76.2 bn), while the surplus of the services account increased (+€29.7 bn compared to +€25.3 bn).” The statistical office also stated that, “the surplus of the primary income account decreased (+€5.7 bn compared to +€21.2 bn), as did the deficit of the secondary income account (-€16.7 bn compared to -€19.7 bn).” The surplus of the capital account rose by €1.2 billion, compared to €0.3 billion booked in the second quarter.


The Eurostat further presented the non-seasonally adjusted data for the third quarter external current account surpluses with the “United Kingdom (+€59.7 bn), the USA (+€32.6 bn), Switzerland (+€23.7 bn), Brazil (+€5.6 bn), Hong Kong (+€5.2 bn), Canada (+€4.7 bn), Japan (+€1.0 bn) and India (+€0.6 bn). Deficits were registered with China (-€36.5 bn), Russia (-€9.2 bn) and offshore financial centres (-€3.1 bn).”

Based on non-seasonally adjusted data, direct investment assets of the EU increased in the third quarter of 2021 by €28.3 billion, while direct investment liabilities declined by €73.5 billion. As a result, the EU was a net direct investor to the rest of the world in the third quarter of 2021 by €101.8 billion. Portfolio investment recorded a net outflow of €12.8 billion and for other investment there was a net inflow of €210.0 billion.


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