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EU had 22.5B euro external trade deficit in January - Eurostat

Thu, Mar 18 2010 12:26 CET

byThe Sofia Echo Staff

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EU had 22.5B euro external trade deficit in January - Eurostat

The first estimate for the euro area trade balance with the rest of the world in January 2010 showed a 8.9 billion euro deficit, compared with a 12.1 billion euro deficit in January 2009, EU statistical office Eurostat said on March 18 2010 .

The December 2009 balance was +4.1 billion euro, compared with -1.7 billion euro in December 2008.

The first estimate for the January 2010 extra-EU27 trade balance was a 22.5 billion euro deficit, compared with -28 billion euro in January 2009.

In December 2009, the balance was -2.5 billion euro, compared with -11.2 billion euro in December 2008.

The EU27 deficit decreased significantly for energy (-233.8 billion euro in 2009 compared with -375.1 billion euro in 2008) and for raw materials (-19.1 billion euro compared with -43.5 billion euro).

The surplus fell for machinery and vehicles (+112.4 billion euro compared with +153.5 billion euro), but rose for chemicals (+81.6 billion euro compared with +74.5 billion euro).

EU27 trade flows with all of its major partners fell in 2009, except for exports to China (up by four per cent in 2009 compared with 2008).

The largest decreases were recorded for exports to Russia (-37 per cent), Turkey (-19 per cent), the United States and Brazil (both -18 per cent), and for imports from Russia (-35 per cent), Brazil (-29 per cent), Norway (-28 per cent), Japan (-26 per cent) and Turkey (-22 per cent).

The smallest decreases were in trade with Switzerland, for both exports (-10 per cent) and imports (-eight per cent).

The EU27 trade surplus fell with the US (+44.5 billion euro in 2009 compared with +63.2 billion in 2008) and Switzerland (+14.8 billion euro compared with +17.7 billion euro ).

The EU27 trade deficit decreased with China (-133.1 billion euro compared with -169.5 billion euro), Russia (-49.7 billion euro compared with -72.8 billion euro), Norway (-31.1 billion euro compared with -52.1 billion euro) and Japan (-19.8 billion euro compared with -32.9 billion euro).

Concerning the total trade of member states, the largest surplus was observed in Germany (+135.8 billion euro in 2009), followed by the Netherlands (+37.9 billion euro), Ireland (+37.4 billion euro) and Belgium (+12.8 billion euro).

The United Kingdom (-92.6 billion euro) registered the largest deficit, followed by France (-54.5 billion euro), Spain (-49.5 billion euro), Greece (-28.5 billion euro) and Portugal (-19 billion euro).

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