Euro Area trade surplus at 2.6 bn euro in November


The first estimate for the euro area (EA13) trade balance with the rest of the world in November 2007 gave a 2.6 bn euro surplus, compared with +5.2 bn in November 2006.


In November 2007 compared with October 2007, seasonally adjusted exports rose by 0.3% and imports by 0.5%. The first estimate for the November 2007 extra-EU27 trade balance was a deficit of 16.8 bn euro, compared with -12.4 bn in November 2006. In October 2007, the balance was -14.3 bn, compared with -14.9 bn in October 2006.
In November 2007 compared with October 2007, seasonally adjusted exports rose by 0.8% and imports by 0.6%.

The EU27 energy deficit decreased (-213.9 bn euro in January-October 2007 compared with -237.4 bn in January-October 2006), while the surplus rose for machinery and vehicles (+105.5 bn compared with +77.8 bn). EU27 trade with most of its major partners grew, with the exception of exports to the USA (-2% in January-October 2007 compared with January-October 2006) and Japan (-1%), and imports from Norway (-8%), Russia (-3%) and South Korea (-2%). The largest increases were recorded for exports to Russia (+25%), India (+20%), Brazil (+17%), China and Norway (both +13%), and for imports from China (+21%), Brazil (+19%), India (+16%) and Turkey (+13%).

The EU27 trade surplus fell with the USA (+67.9 bn euro in January-October 2007 compared with +74.4 bn in January-October 2006) and Switzerland (+12.8 bn compared with +13.2 bn). The EU27 trade deficit grew with China (-132.2 bn compared with -105.6 bn) and Japan (-28.4 bn compared with -27.2 bn), but decreased with Russia (-43.4 bn compared with -61.2 bn), Norway (-26.0 bn compared with -35.2 bn) and South Korea (-12.7 bn compared to -15.0 bn). Concerning the total trade of Member States, the largest surplus was observed in Germany (+165.6 bn euro in January-October 2007), followed by the Netherlands (+34.5 bn), Ireland (+25.2 bn), Belgium (+12.8 bn) and Sweden (+11.4 bn). The United Kingdom (-112.4 bn) registered the largest deficit, followed by Spain (-78.6 bn), France (-34.9 bn), Greece (-32.0 bn), Romania (-17.3 bn), Portugal (-15.4 bn) and Poland (-13.2 bn).


Eurostat
1/17/2008 9:23:49 AM