EU-27 current account deficit rose to EUR 244 bn in 2008

First estimates of the EU27 current account balance show that in 2008 the deficit increased reaching 244 bn, that is 2.0% of GDP, compared to €140 bn (1.1% of GDP) recorded in 2007. This development is mainly due to the deterioration in the goods and income accounts. The USA and China confirmed their position of main net debtor and net creditor, respectively, to the EU.

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