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An EU-27 current account external deficit of more than €85bn in 2006 An increasing surplus on trade in services
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The preliminary results of the EU-27's current account balance for 2006 showed a deficit of €85.5 billion compared with €66.1 billion in 2005 and €20.6 billion in 2004. This result was mainly due to a growing deficit in goods and current transfers balances (-€168.5 billion and -€51.3 billion respectively). In contrast, the EU-27 continued to increase its external surplus in the services account (€67.1 billion in 2006 compared with €55.3 billion in 2005) and income account (€67.2 billion in 2006 compared with €34.7 billion in 2005). In 2006, the USA remained the EU’s main foreign trading partner. The EU-27's external current account recorded surpluses with the USA (€114.5 billion), Canada (€13.5 billion), Switzerland (€13.2 billion), Hong Kong (€6.9 billion) and India (€2.5 billion), but deficits with China(-€118.4 billion), Russia (-€53.0 billion) and Japan (-€26.4 billion).
Franca FAES-CANNITO - Personal Name
1977-0316
NONE
Economics
English
2007
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