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The EU28 seasonally adjusted current account of the balance of payments recorded a surplus of €69.4 billion (1.8% of GDP) in the third quarter of 2017, up from a surplus of €47.5 billion (1.2% of GDP) in the second quarter of 2017 and from a surplus of €44.8 billion (1.2% of GDP) in the third quarter of 2016, according to estimates released

by Eurostat, the statistical office of the European Union. In the third quarter of 2017 compared with the second quarter of 2017, based on seasonally adjusted data, the surplus of the goods account increased (+€43.1 bn compared to +€34.1 bn), as did the surplus of the services account (+€46.5 bn compared to +€40.1 bn). The deficit of the primary income account turned into a surplus (+€2.0 bn compared to -€2.6 bn). The deficit of the secondary income account decreased (-€22.1 bn compared to -€24.2 bn), as did the deficit of the capital account (-€6.4 bn compared to -€13.4 bn).

 

Main partners.  In the third quarter of 2017, based on non-seasonally adjusted data, the EU28 recorded external current account surpluses with the USA (+€46.3 bn), Switzerland (+€18.2 bn), Brazil (+€8.3 bn), Canada (+€6.6 bn), Hong Kong (+€6.0 bn) and offshore financial centres (+€2.8 bn). Deficits were registered with China (-€28.6 bn), Japan (-€2.8 bn) and Russia (-€1.5 bn), while there was a balance with India. Financial account Based on non-seasonally adjusted data, direct investment assets of the EU28 dropped in the third quarter of 2017 by €87.6 bn, as did direct investment liabilities by €160.8 bn. As a result, the EU28 was a net investor of direct investment in the third quarter of 2017 by €73.2 bn. Portfolio investment recorded a net outflow of €110.9 bn, and for other investment there was a net outflow of €2.3 bn.

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