Euro area has external trade surplus & a deficit in EU27

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Euro area has external trade surplus & a deficit in EU27The first estimate for the euro area (EA16) trade balance with the rest of the world in April 2010 gave a 1.8 billion euro surplus, compared with +2.6 bn in April 2009. The March 20102 balance was +4.5 bn, compared with +1.5 bn in March 2009. In April 2010 compared with March 2010, seasonally adjusted exports fell by 2.4% and imports by 3.5%.

The first estimate for the April 2010 extra-EU27 trade balance was a 10.2 bn euro deficit, compared with -7.8 bn in April 2009. In March 2010 the balance was -7.2 bn, compared with -9.2 bn in March 2009. In April 2010 compared with March 2010, seasonally adjusted exports fell by 2.4% and imports by 2.8%.

EU27 January-March 2010 detailed results

The EU27 deficit rose for energy (-66.6 bn euro in January-March 2010 compared with -58.5 bn in January-March 2009), while the surplus for manufactured goods increased (+35.9 bn compared with +21.9 bn).

EU27 exports to all its major partners grew in January-March 2010 compared with January-March 2009. The most notable increases were recorded for exports to China (+48%), Brazil (+43%) and Turkey (+41%). For imports, the largest increases were recorded with Russia (+35%), India (+16%) and Turkey (+14%), and the largest fall with the USA (-12%).

The EU27 trade surplus increased with the USA (+14.2 bn euro in January-March 2010 compared with +6.3 bn in January-March 2009), Switzerland (+4.4 bn compared with +3.3 bn) and Turkey (+2.8 bn compared with +0.3 bn).

The EU27 trade deficit decreased with China (-34.6 bn compared with -37.0 bn), Norway (-9.4 bn compared with -10.0 bn) and Japan (-5.0 bn compared with -5.8 bn), but increased with Russia (-18.2 bn compared with -10.5 bn). Concerning the total trade of Member States, the largest surplus was observed in Germany (+37.4 bn euro in January-March 2010), followed by the Netherlands (+12.0 bn) and Ireland (+9.4 bn). The United Kingdom (-24.9 bn) registered the largest deficit, followed by France (-14.4 bn), Spain (-12.2 bn), Greece (-7.1 bn) and Italy (-6.9 bn).

These data were released by Eurostat, the statistical office of the European Union.

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