LISBON: Portugal’s current account surplus widened to 1.56 billion euros ($1.66 billion) last year from just 124 million a year earlier in the fourth straight year of positive balances, data released by the Bank of Portugal.
The combined surplus of trade in goods and services for the period reached nearly 4.1 billion euros, 28 percent higher than in 2015 mainly thanks to booming tourism.
Before 2013, Portugal had for decades run current account deficits.
Current Account: (in millions of euros, figures are provisional): 2016 2015 Current account 1,556 124 Capital account 1,598 2,109 Financial account 3,142 2,164 Direct investment -4,052 -1,125 Portfolio investment 14,802 422 Other investment -12,841 1,010 Goods -9,076 -9,270 Services 13,141 12,435 Primary income -3,982 -4,547 Secondary income 1,474 1,506 ($1 = 0.9415 euros)
