The deficit on the current account and the capital account deteriorated to 1.678 million in June – observer

The combined deficit of the current and capital accounts was 1,678 million euros in June, compared to 836 million euros in the same month of 2017, the Bank of Portugal (BdP) said Tuesday.

"This was mainly due to the balance of goods and the primary income," the central bank explains in the balance of payments statistics for last June. According to Bop, the balance of goods and services had "different evolutions" compared to the same period of 2017.

The goods balance deficit increased by 1,062 million euros, while the balance of the services surplus increased by 662 million euros, mainly as a result of the travel and tourism heading, of which the balance went from 3,953 million euros to 4,637 million euros ", the central Bank.

Up to June, exports of goods and services grew by 7%, in the first case by 6.8% and in the second by 7.4%. Imports increased by 8.1% (8.9% in goods and 4.5% in services).

The primary income deficit increased by € 451 million to € 3,611 million due to the combined effect of the reduction in dividends received and the increase in dividends paid abroad, "he said.

In the first six months of the year, the balance of the financial account recorded a reduction of 1,344 million euros in net foreign assets of Portugal, mainly due to the increase in liabilities of non-financial corporations as a result of the investment of non-residents in securities of capital ", concludes the Banco de Portugal.

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