In the first quarter of 2010, compared with the first quarter of 2009, the deficit of the goods account decreased (-31.8bn compared with -43.9bn) and the deficit of the income account turned to surplus (+2.4bn compared with -4.9bn). The surplus of the services account fell (+10.8bn compared with +13.3bn) and the deficit of the current transfers account increased (-16.2bn compared with -15bn).

The surplus recorded in the services account (+10.8bn) is mainly the result of surpluses in “other business services”, which includes miscellaneous business, professional and technical services (+6.8bn), financial services (+6.5bn), computer & information services (+4.1bn) and transportation (+3.9bn), partially offset by deficits in travel (-5.8bn) and royalties & license fees (-4.1bn).

In the first quarter of 2010, the EU27 external current account recorded a surplus with the USA (+14.1bn), Switzerland (+4.4bn), Hong Kong (+4.1bn), Brazil (+3bn), Canada (+2.2bn) and India (+0.9bn) and a deficit with China (-30.9bn), Russia (-13.5bn) and Japan (-7bn). 

Financial Account
In the first quarter of 2010, the EU27 made direct investments abroad of €28.9bn, compared with €65.1bn in the same quarter of 2009, while foreign direct investors made investments in the EU27 of €26.8bn, compared with €35.9bn in the same quarter of 2009. Portfolio investments recorded a net inflow of €93.6bn, compared with €220.4bn in the first quarter of 2009.

These provisional data, issued by Eurostat, the statistical office of the European Union, are based on the information available at the time of publication and subject to revision.