This reflected surpluses for goods (€28.2 billion), primary income (€10.3 billion) and services (€7.2 billion), which were partly offset by a deficit for secondary income (€12.4 billion).

The 12-month cumulated current account for the period ending in August 2017 recorded a surplus of €338.5 billion (3.1% of euro area GDP), compared with one of €358.1 billion (3.3% of euro area GDP) for the 12 months to August 2016. This development was due to a decrease in the surplus for goods (from €374.1 billion to €339.0 billion) and an increase in the deficit for secondary income (from €131.9 billion to €150.2 billion). These were partly offset by increases in the surpluses for primary income (from €66.1 billion to €90.9 billion) and services (from €49.9 billion to €58.8 billion).