In the second quarter of 2023 (Q2'23), the European Union (EU) seasonally adjusted current account of the balance of payments recorded a surplus of Euro 73.0 billion (+1.7 per cent of GDP), compared with a surplus of EUR60.6 billion (+1.5 per cent of GDP) in Q1'23 and a deficit of Euro 32.6 billion (-0.8 per cent of GDP) in Q2'22, according to estimates released by Eurostat, the EU statistical office.
In the second quarter of 2023 compared with the first quarter of 2023, based on seasonally adjusted data, the surplus of the goods account increased (+Euro 52.7 bn compared to +Euro 41.4 bn), while the surplus of the services account decreased (+Euro 33.7 bn compared to +Euro 39.9 bn). The surplus of the primary income account increased (+Euro 6.9 bn compared to +Euro 1.9 bn) and the deficit of the secondary income account decreased (-Euro 20.3 bn compared to -Euro 22.6 bn). During the same period, the deficit of the capital account decreased (-Euro 6.8 bn compared to -Euro 9.7 bn).
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