Provisional readings by Eurostat on the European current account figures showed a considerable improvement in the money flows relating to trade and investment. The European Union's external current account recorded a deficit of €8.8 billion in the first quarter of 2012, compared with the €31.3 billion deficit of January to March in 2011.
In the first quarter of 2012, the EU27 external balance of trade in goods was in deficit by €28.6 b
illion, €18.7 smaller than the €47.3 billion deficit in the first quarter of 2011. In the first quarter of 2012, the external balance of trade in services was in surplus by €25.2 billion, compared with a surplus of €20.4 billion in the first quarter of 2011.