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European current account deficit cut by €22.5 billion in the first quarter

World economy

Provisional readings by Eurostat on the European current account figures showed a considerable improvement in the money flows relating to trade and investment. The European Union's external current account recorded a deficit of €8.8 billion in the first quarter of 2012, compared with the €31.3 billion deficit of January to March in 2011. In the first quarter of […]

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Provisional readings by Eurostat on the European current account figures showed a considerable improvement in the money flows relating to trade and investment. The European Union's external current account recorded a deficit of €8.8 billion in the first quarter of 2012, compared with the €31.3 billion deficit of January to March in 2011.

In the first quarter of 2012, the EU27 external balance of trade in goods was in deficit by €28.6 b

illion, €18.7 smaller than the €47.3 billion deficit in the first quarter of 2011. In the first quarter of 2012, the external balance of trade in services was in surplus by €25.2 billion, compared with a surplus of €20.4 billion in the first quarter of 2011.

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