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EU-27 current account deficit rose to EUR 244 bn in 2008
- Share to:
Investment shows a noticeable slowdown in 2008, mostly attributable to a poor performance in the last quarter, when the impact of the current financial turmoil became apparent.
Direct investment abroad plunged by more than 30 % for the year, and direct investment in the EU by almost 60 %. In addition, EU residents sold external securities
(portfolio investment) worth EUR 214 billion, whereas in 2007 they had been net buyers to the tune of EUR 519 billion; acquisitions by non-residents of securities issued in the EU dropped by 20 % (from EUR 877 billion in 2007 to EUR 718). As for other investment, which includes bank deposits, trade credit and loans, the net outflow on assets (i.e. bank deposits of EU residents abroad) shrank almost to zero (EUR 27 billion) from EUR 1380 billion in 2007; on the liabilities side, the large inflow recorded in 2007 (EUR 1425 billion) turned into an outflow of EUR 528 billion.
Luca PAPPALARDO, Cristina CORSINI - Personal Name
NONE
Economics
English
2009
1-8
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