EU posts €26.5 bln deficit in first quarter
The European Union (EU) external current account recorded a deficit of €26.5 billion in the first quarter of 2008, the EU statistical service Eurostat said.
In the first quarter of 2008, compared with the first quarter of last year, the deficit of the goods account rose from €44.3 billion ($69.5 billion) to €53.7 billion ($84.3 billion), while the surplus of the services account decreased slightly to €17.4 billion ($27.3 billion) from €18.9 billion ($29.6 billion).
The surplus recorded in the services account is mainly the result of surpluses in financial services; other business services, which includes miscellaneous business, professional and technical services, computer and information services and transportation.
In the first quarter of 2008, the EU external current account recorded a surplus with the United States, Switzerland, Canada and Hong Kong, China. (Xinhua)
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