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Portugal Jan.-Feb. Current Account Deficit Narrows Sharply

Portugal's current account deficit decreased significantly in the January-February period, data released by the central bank showed Monday.

The current account deficit decreased to EUR907 million in the two months ended February from EUR1.93 billion in the same period last year.

The goods trade account showed a deficit of EUR1.46 billion during the period, markedly lower than the EUR2.31 billion deficit seen a year earlier. Meanwhile, the services account showed a surplus of EUR887 million during the three-month period, higher than the EUR758 million surplus recorded in the same period last year.

The deficit in the income account widened to EUR966 million in the January-February period from EUR851 million in the comparable period last year, while the surplus in the current transfers account rose to EUR635 million from EUR471 million, the agency said.

by RTT Staff Writer

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