The EU recorded a current account surplus of €114 billion in the first quarter of 2025

BRUSSELS – The European Union recorded a current account surplus of 114 billion euros in the first quarter of this year, representing 2.5 percent of its GDP, Eurostat announced today. This result marks an increase compared to 88.9 billion euros in the last quarter of 2024, but the figure is simultaneously lower than the 132.3 billion euros surplus recorded in the first quarter of last year.

Trade in goods generated a surplus of 117.9 billion euros, compared to 85.5 billion euros from the previous quarter, while trade in services produced a surplus of 46.1 billion euros, which is also an increase from 42.1 billion in the fourth quarter of 2024. In contrast, there was an increase in the primary income balance deficit – from 10.1 to 21.3 billion euros – as well as a slight increase in the secondary income deficit, from 28.6 to 28.7 billion euros.

The capital account recorded a surplus of 2.9 billion euros, representing a turnaround from a deficit of 1.9 billion euros in the last quarter of last year. The European Union, according to seasonally unadjusted data, recorded the largest trade surplus with the United Kingdom of 67.9 billion euros, the United States of 12.8 billion euros, and Switzerland of 12.3 billion euros. In contrast, the largest deficit was recorded in trade with China of 49.2 billion euros, India of 2.4 billion euros, and Russia of 1.2 billion euros. (July 3)