EU current account surplus €39.4bn

The EU external current account recorded a surplus of 39.4 billion euro in the fourth quarter of 2013, up from a surplus of 24.1 billion euro in the fourth quarter of 2012, according to figures released Wednesday by Eurostat, the EU statistical office. In the fourth quarter of 2013, the EU registered direct investment abroad of 200.4 billion euro, compared with 60.1 billion euro in the fourth quarter of 2012, while direct investment from the rest of the world into the EU was 161.1 billion euro, compared with 23.8 billion euro in the same quarter of 2012. In the fourth quarter of 2013, the EU recorded external current account surpluses with the USA (+30.9 bn euro), Switzerland (+16.2 bn), Brazil (+7.4 bn), Hong Kong (+5.2 bn) and Canada (+4.0 bn), and deficits with China (-24.5 bn), Russia (-14.2 bn) and Japan (-1.5 bn). Meanwhile, Eurostat reported that the EU annual inflation was 0.6 percent in March, down from 0.8 percent in February. Euro area annual inflation was 0.5% in March 2014, down from 0.7% in February.