Euro External Deficit Cut To 37.1bn

The EU27 had an external current account deficit of 37.1bn euro in Q2 2010 from 42.1bn euro in Q2 2009 and 31.8bn euro in Q1 2010. The trade in service balance was 19.3bn euro and the balance was -1.2% of GDP. In the euro area (EA16) the deficit was 23.1bn euro the balance of trade in services was 11.9bn euro and the balance as a percentage of GDP was 1%.