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Euro area external trade surplus was 4.6 billion euro in June

Mon, Aug 17 2009 14:21 CET

byThe Sofia Echo Staff

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Euro area external trade surplus was 4.6 billion euro in June

The first estimate for the euro area trade balance with the rest of the world in June 2009 gave a 4.6 billion euro surplus, compared with a zero balance in June 2008.
 
The May 2009 balance was +2.1 billion euro, compared with -3.8 billion in May 2008. In June 2009 compared with May 2009, seasonally adjusted exports fell by 0.1 per cent, while imports remained stable.
 
The first estimate for the June 2009 extra- EU27 1 trade balance was -4.3 billion euro, compared with -19.3 billion in June 2008.
 
In May 2009 the balance was -7.2 billion euro, compared with -20.7 billion in May 2008. In June 2009 compared with May 2009, seasonally adjusted exports fell by 0.3 per cent and imports by 1.4 per cent.

This is according to figures released by Eurostat, the Statistical Office of the European Communities on August 17 2009 .
 
The EU27 energy deficit decreased (-92.9 billion euro in January-May 2009 compared with -147.9 billion in January-May 2008), while the surplus fell for machinery and vehicles (+36.3 billion compared with +59.8 billion) and chemicals (+31.1 billion compared with +32.7 billion).

EU27 trade flows with all of its major partners fell. The largest decreases were recorded for exports to Russia (-39 per cent in January-May 2009 compared with January-May 2008), Turkey (-33 per cent), South Korea (-23 per cent) and Norway (-22 per cent), and for imports from Russia (-43 per cent), Japan and Brazil (both -29 per cent), Norway and Turkey (both -28 per cent).

The EU27 trade surplus fell with the USA (+11.5 billion euro in January-May 2009 compared with +27.3 billion in January-May 2008) and Switzerland (+4.8 billion compared with eight billion).
 
The EU27 trade deficit decreased with China (-55.8 billion compared with -60.9 billion), Russia (-16.4 bn compared with -31.1 billion), Norway (-13.3 billion compared with -19.9 billion ) and Japan (-9.1 billion compared with -15.0 billion ).

Concerning the total trade of EU member states, the largest surplus was observed in Germany (+46.3 billion euro in January-May 2009), followed by Ireland (+15.6 billion) and the Netherlands (+13.8 billion). The United Kingdom (-38.0 billion) registered the largest deficit, followed by France (-24.4 billion), Spain (-20.7 billion), Greece (-11.6 billion) and Portugal (-6.8 billion).
 

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