In the first quarter of 2020, when COVID-19 containment measures began to be widely introduced by Member States, the EU seasonally adjusted current account of the balance of payments recorded a surplus of €59.9 billion (1.8% of GDP), down from a surplus of €78.6 billion (2.2% of GDP) in the fourth quarter of 2019 and from a surplus of €102.0 billion (3.0% of GDP) in the first quarter of 2019, according to estimates released by Eurostat, the statistical office of the European Union.