FRANKFURT (MktNews) - The 11 member states of European Monetary Union posted a current account deficit of E7.8 billion in the fourth quarter of 2000, compared to a deficit of E6.5 billion in the fourth quarter last year and a deficit of E6.1 billion in the third quarter in 2000, according to provisional figures released by Eurostat Friday.
The EMU current account balance for the previous quarters remained unrevised, according to the release.
The data show that the eurozone's current account deficit was more or less stable in 2000, despite the rise in oil prices and the weakening of the euro.
The European Union recorded a current account deficit of E13.3 billion in the fourth quarter of 2000 compared to a deficit of E1.9 billion for the same quarter of 1999 and a deficit of E7.9 billion in the third quarter 2000.