2010.08.1911:28:00UTC+00Portugal Jan.-June Current Account Deficit Narrows

Portugal's current account deficit narrowed in the January to June period from a year ago, data from the Bank of Portugal showed on Thursday.

The current account deficit totaled EUR 9.17 billion in the January to June period, narrowing from EUR 9.45 billion deficit last year. The balance in goods account dropped to minus EUR 8.58 billion from EUR 8.34 billion last year, while the balance in the services account increased to EUR 2.51 billion from EUR 2.24 billion.

At the same time, the income account deficit narrowed to EUR 3.95 billion from EUR 4.19 billion a year ago. The capital account surplus decreased to EUR 482 million from EUR 854 million.

Meanwhile, the financial account surplus widened to EUR 9.18 billion in the January to June period from EUR 8.63 billion a year ago. The direct investment rose to EUR 1.06 billion from EUR 817 million, while portfolio investment showed a deficit balance of EUR 17.27 billion compared to EUR 11.66 billion surplus last year.

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