Surplus of European Union rises

In fourth quarter of 2013, surplus of EU reached 1.5 percent of Gross Domestic Product.

In fourth quarter of 2013, surplus of EU reached 1.5 percent of Gross Domestic Product.

ANKARA - The EU28 seasonally adjusted external current account recorded a surplus of €47.9 billion (1.5 percent of GDP) in the fourth quarter of 2013, Eurostat, the statistical office of the European Union, said on Friday.

The current account surplus was €31.8 billion (1.0 percent of GDP) in the third quarter of 2013 and €22.9 billion (0.7 percent of GDP) in the fourth quarter of 2012.

In the fourth quarter of 2013, the seasonally adjusted surplus of the goods account, which was €0.9 billion in the third quarter, realized €11.4 billion.

In the same period, the seasonally adjusted income account increased to €11.6 billion compared with €8.7 billion in previous quarter while services account surplus rose to €42.1 billion compared with €40.8 billion.

On the other hand the deficit of the current transfers account, which was €18.6 billion in the previous quarter, fell to €17.2 billion.

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