According to the latest revisions, the EU27 external current account recorded a deficit of 17.2 billion euro in the third quarter of 2007, compared with a deficit of 24.6 bn in the third quarter of 2006 and a deficit of 16.3 bn in the second quarter of 2007.

In the third quarter of 2007, compared with the third quarter of 2006, a lower deficit was recorded in the goods account (-41.5 bn euro compared with -44.5 bn), while the surplus of the services account increased (+23.2 bn compared with +16.7 bn). The surplus of the income account declined (+14.8 bn compared with +16.5 bn), while the deficit of the current transfers account remained nearly stable (-13.8 bn compared with -13.3 bn).

The surplus recorded in the services account (+23.2 bn euro) is mainly the result of surpluses in "other business services3" (+10.1 bn), financial services (+8.6 bn), transportation (+5.8 bn) and computer & information services (+3.0 bn), partially offset by deficits in travel (-4.3 bn) and royalties & license fees (-3.5 bn).

In the third quarter of 2007, the EU27 external current account recorded a surplus with the USA (+26.0 bn euro), Hong Kong (+3.0 bn) and Canada (+2.1 bn), and a deficit with China (-38.0 bn), Russia (-6.9 bn) and Japan (-6.7 bn).