In the second quarter of 2010, compared with the second quarter of 2009, the deficits of the goods account (€-29.9bn compared with -14.9bn) and the current transfers account (-14.2bn compared with -11.9bn) both increased. The surplus of the services account rose (+19.3bn compared with +16.7bn), while the deficit of the income account fell (-12.4bn compared with -32.1bn).

The surplus recorded in the services account (€+19.3bn) is mainly the result of surpluses in “other business services”, which includes miscellaneous business, professional and technical services (+8.6bn), financial services (+6.5bn), computer & information services (+5.6bn) and transportation (+5bn), partially offset by deficits in royalties & license fees (-4bn) and travel (-3.1bn).

In the second quarter of 2010, the EU27 external current account recorded a surplus with the USA (€+19.4bn), Switzerland (+9.6bn), Hong Kong (+5.7bn), Brazil (+5.2bn), Canada and India (both +1.8bn), and a deficit with China (-31.5bn), Russia (-13bn) and Japan (-8.6bn). 

Financial Account
In the second quarter of 2010, the EU27 made direct investments abroad of €50.1bn, compared with 75bn in the same quarter of 2009, while foreign direct investors recorded disinvestments in the EU27 of 12bn, compared with investments of 81.4bn in the same quarter of 2009. Portfolio investments recorded a net inflow of 194bn, compared with 133.9bn in the second 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.