The EU current external surplus in 1998 shrank to ECU 16 bn after a record ECU 49 bn in 1997

EU total current transactions with the rest of the world slowed down from a 16% growth in 1997 to 3% in 1998. The surplus in trade in goods for the EU fell from ECU 40 bn to ECU 27 bn in 1998. EU trade in services registered a 5% growth on the imports from the rest of the world, whilst EU exports remained at approximately the same level as in 1997.