27 June 2001, 14:31 Euro area April current account deficit 3.3 bln eur vs deficit 7.0 bln
FRANKFURT (AFX) - The current account deficit in the euro area fell
to 3.3 bln eur in April from a 7.0 bln eur deficit a year earlier, the
European Central Bank said in a statement.
It said this change was primarily due to an increase in the goods
surplus and a shift in the balance for services to a small surplus.
In the financial account, direct investment recorded net outflows
of 20.8 bln eur in April. Portfolio investment recorded net ouflows in
April of 20.9 bln eur.
Direct investment flows were in balance at 0.1 bln eur, amid
relatively low transaction activity, the ECB said.
Net outflows in the equity capital were compensated by inflows by
other capital, such as intercompany loans, it added.
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