Sat, May 26 2012

Eurozone produces trade surplus

Thu, Feb 18 2010 17:39 CET

byClive Leviev-Sawyer

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Eurozone produces trade surplus

Photo: Assen Tonev

The first estimate for the euro area trade balance with the rest of the world in December 2009 sees a 4.4 billion euro surplus, compared with a 1.8 billion euro deficit in December 2008, according to EU statistical office Eurostat.
 
The November 2009 balance was +4.0 billion euro, compared with -6.9 billion euro in November 2008.

In December 2009, compared with November 2009, seasonally adjusted exports rose by 3.1 per cent and imports by 1.7 per cent.

The first estimate for the December 2009 extra-EU27 trade balance was a 2.5 billion euro deficit, compared with -11.3 bn in December 2008.

In November 2009, the balance was -6.8 billion euro, compared with -24.4 billion euro in November 2008.

In December 2009 compared with November 2009, seasonally adjusted exports rose by two per cent and imports by 0.5 per cent
.
During 2009, euro area trade recorded a surplus of 22.3 billion euro, compared with -54.7 bn in 2008, according to Eurostat. The EU27 recorded a deficit of 105.5 billion euro in 2009, compared with -258.4 billion euro in 2008.

The EU27 deficit decreased for energy (-212.1 billion euro in January-November 2009 compared with -350.7 billion euro in January-November 2008) and for raw materials (-17.3 billion euro compared with -40.3 billion euro).

The surplus fell for machinery and vehicles (+99 billion euro compared with +138.9 billion euro), but rose for chemicals (+74.1 billion euro compared with +68.9 billion euro).

EU27 trade flows with all of its major partners fell, except for exports to China which grew by two per cent.

The largest decreases were recorded for exports to Russia (-39 per cent in January-November 2009 compared with January-November 2008), Turkey (-22 per cent), Brazil (-21 per cent), the US (-19 per cent) and South Korea (-18 per cent), and for imports from Russia (-38 per cent), Norway (-30 per cent), Brazil (-29 per cent), Japan (-27 per cent) and Turkey (-23 per cent). The smallest falls were observed for trade with Switzerland , for both exports (-11 per cent) and imports (-9 per cent).

The EU27 trade surplus fell with the US (+40.7 billion euro in January-November 2009 compared with +59.9 billion euro in January-November 2008) and Switzerland (+13.5 billion euro compared with +16.3 billion euro).

The EU27 trade deficit decreased with China (-122.9 billion euro compared with -155.9 billion euro), Russia (-44.0 billion euro compared with -69.2 billion euro), Norway (-28.4 billion euro compared with -48.2 billion euro ) and Japan (-18.4 billion euro compared with -31.1 billion euro ).

As to the total trade of EU member states, the largest surplus was observed in Germany (+122.4 billion euro in January-November 2009), followed by the Netherlands (+35.4 billion euro), Ireland (+35.3 billion euro) and Belgium (+13.1 billion euro).

The United Kingdom (-85.7 billion euro) registered the largest deficit, followed by France (-49.0 billion euro), Spain (-45.5 billion euro), Greece (-26.2 billion euro) and Portugal (-17.0 billion euro), according to Eurostat.
 
Click here to see full details of the Eurostat figures 

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