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EU15 Recorded A Services Trade Deficit in First Quarter of 2001
Jul 31, 2001

The EU(15) economic zone recorded a current account deficit of Euro 17.9 billion and a Euro 3.8 bin deficit on trade in services in the first quarter of 2001 according to report published by Eurostat on 30 July, 2001.

In the first quarter of 2001, the EU15 external balance of trade in services recorded a deficit of 3.8 billion euro as compared with a deficit of 1.4 billion euro in the first quarter of 2000 and a deficit of 3.2 billion euro in the fourth quarter of 2000.

According to the latest revisions, the EU15 external current account recorded a deficit of 17.9 billion euro in the first quarter of 2001, as compared with a deficit of 17.7 billion euro in the first quarter of 2000 and a deficit of 15.0 billion euro in the fourth quarter of 2000.

In turn the Eurozone, which includes only the member countries under the single currency registered a Euro 5 billion deficit in the first quarter of 2001. The slightly larger services trade deficit for the Euro-zone is the result of not taking into account the services surplus in the United Kingdom.

The report may be downloaded from Eurostat at: http://europa.eu.int/comm/eurostat/Public/datashop/print-product/EN?catalogue=Eurostat&product=2-30072001-EN-AP-EN&mode=download

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