EU’s current account saw $143.7B surplus in Q2

By Emir Yildirim

ISTANBUL (AA) – The current account in the EU saw a €130.4 billion ($143.7 billion) surplus in the second quarter of 2024, new Eurostat data said Friday.

The figure, accounting for 2.9% of the EU’s GDP, rose from €78.1 billion in current account surplus in the second quarter of 2023, the data showed.

On a quarterly basis, the EU’s current account surplus was lower in the second quarter of 2024 compared to €132.4 billion, or 3% of the EU’s GDP, in the first quarter of the same year.

In the second quarter compared to the first, the surplus of the goods account fell to €101.2 billion from €111.6 billion and the surplus of services climbed to €53.6 billion from €45.9 billion.

Over the same period, the surplus of the primary income account surged to €5 billion from €1.1 billion, and the deficit of the secondary income account rose to minus €29.4 billion from minus €26.1 billion.

At the same time, the deficit of the capital account grew larger, recorded at minus €13.5 billion compared to minus €9.6 billion.