The EU27 external current account recorded a surplus of €4.6bn in the second quarter of 2012, compared with a deficit of €37.1bn in the second quarter of 2011.

In the second quarter of 2012, compared with the second quarter of 2011, the deficit of the goods account decreased by €12.2bn compared with a deficit of €41bn, indicating a drastic slowdown in the EU27 economies, as weak demand sends import levels crashing.

The provisional data issued by Eurostat, the statistical office of the European Union, are not seasonally adjusted and are subject to revision.