BRUSSELS, 10th April, 2024 (WAM) -- In the fourth quarter of 2023, the EU seasonally adjusted current account of the balance of payments recorded a surplus of €107.9 billion (+2.5% of GDP), compared with a surplus of €86.2 billion (+2.0% of GDP) in the third quarter of 2023 and a surplus of €24.3 billion (+0.6% of GDP) in the fourth quarter of 2022, according to estimates released by Eurostat, the statistical office of the European Union.
In the fourth quarter of 2023 compared with the third quarter of 2023, based on seasonally adjusted data the surplus of the goods account decreased (+€63.9 bn compared to +€76.1 bn), the surplus of the services account increased (+€62.3 bn compared to +€24.4 bn), the surplus of the primary income account decreased (+€4.6 bn compared to +€8.6 bn) and the deficit of the secondary income account decreased (-€22.9 bn compared to -€23.0 bn).
In addition, during the same period, the deficit of the capital account increased (-€10.5 bn compared to -€0.3 bn).
In the fourth quarter of 2023, based on non-seasonally adjusted data, the EU recorded current account surpluses with the United Kingdom (+€62.3 bn), Switzerland (+€26.5 bn), the USA (+€23.0 bn), Canada (+€9.9 bn), Brazil (+€9.1 bn), Hong Kong (+€8.5 bn), offshore financial centres (+€7.9 bn), Japan (+€6.0 bn) and Russia (+€1.8 bn). Deficits were registered with China (-€32.1 bn) and India (-€0.8 bn).
Based on non-seasonally adjusted data, in the fourth quarter of 2023, direct investment assets of the EU decreased by €375.3 bn and direct investment liabilities decreased by €370.1 bn.
As a result, the EU was a net recipient of direct investment from the rest of the world with net inflows of €5.1 bn.
At the same time, portfolio investment recorded a net inflow of €81.2 bn, while other investment recorded a net outflow of €89.5 bn.