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Euro Area Balance of TradeThe Euro Area reported a trade surplus (non seasonally adjusted data) equivalent to 8600 Million EUR in March of 2012. Historically, from 1999 until 2012, Euro Area Balance of Trade averaged 270.0100 Million EUR reaching an all time high of 13637.3000 Million EUR in July of 2002 and a record low of -16523.0000 Million EUR in January of 2011. The Euro Area refers to a currency union among the seventeen European Union member states that have adopted the euro as their sole official currency. Euro Area main trading partners are United Kingdom, United States, China, Russia and Switzerland. This page includes a chart with historical data for Euro Area Balance of Trade.
Euro Area External Trade Surplus Widens in March
Published on 5/16/2012 2:52:37 PM
| By TradingEconomics.com, Eurostat
The first estimate for the euro area (EA17) trade in goods balance with the rest of the world in March 2012 gave a 8.6 bn euro surplus, compared with +1.0 bn in March 2011. The February 2012 balance was +2.3 bn, compared with -2.9 bn in February 2011. In March 2012 compared with February 2012, seasonally adjusted exports fell by 0.9% and imports by 1.1%.
The EU27 deficit for energy increased (-70.3 bn euro in January-February 2012 compared with -61.6 bn in January-February 2011), as did the surplus for manufactured goods (+41.4 bn compared with +26.9 bn).
EU27 exports to most of its major partners grew in January-February 2012 compared with January-February 2011, except for Turkey (-4%) and India (-1%), while exports to Norway remained stable. The most notable increases were recorded for exports to Switzerland (+29%), Russia (+22%) and Brazil (+20%). As regards EU27 imports, the largest increases were recorded for imports from Norway (+14%), USA and Russia (both +12%). Imports from Japan and Turkey fell (both -3%), while imports from India remained stable.
The EU27 trade surplus increased with the USA (+12.0 bn euro in January-February 2012 compared with +11.2 bn in January-February 2011) and Switzerland (+7.9 bn compared with +3.3 bn), and remained almost unchanged with Turkey (+3.2 bn compared with +3.3 bn). The EU27 trade deficit fell with China (-26.5 bn compared with -28.0 bn) and Japan (-2.0 bn compared with -3.5 bn), but increased with Russia (-17.9 bn compared with -17.2 bn) and Norway (-10.6 bn compared with -8.4 bn).
Concerning the total trade of Member States, the largest surplus was observed in Germany (+27.8 bn euro in January-February 2012), followed by the Netherlands (+7.2 bn) and Ireland (+6.8 bn). The United Kingdom (-23.7 bn) registered the largest deficit, followed by France (-15.6 bn), Spain (-7.1 bn) and Italy (-5.5 bn).
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Balance of Trade
The balance of trade is the difference between the monetary value of exports and imports in an economy over a certain period of time. A positive balance of trade is known as a trade surplus and consists of exporting more than is imported; a negative balance of trade is known as a trade deficit or, informally, a trade gap. The balance of trade forms part of the current account, which also includes other transactions such as income from the international investment position as well as international aid. If the current account is in surplus, the country's net international asset position increases correspondingly. Equally, a deficit decreases the net international asset position. The Balance of Trade is identical to the difference between a country's output and its domestic demand - the difference between what goods a country produces and how many goods it buys from abroad; this does not include money respent on foreign stocks, nor does it factor the concept of importing goods to produce for the domestic market.
EURO AREA NEWS
Euro Area External Trade Surplus Widens in March
Published: 5/16/2012 2:52:37 PM
By: TradingEconomics.com, Eurostat
The first estimate for the euro area (EA17) trade in goods balance with the rest of the world in March 2012 gave a 8.6 bn euro surplus, compared with +1.0 bn in March 2011. The February 2012 balance was +2.3 bn, compared with -2.9 bn in February 2011. In March 2012 compared with February 2012, seasonally adjusted exports fell by 0.9% and imports by 1.1%.
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Euro Area Annual Inflation Down to 2.6%
Published: 5/16/2012 2:50:32 PM
By: TradingEconomics.com, Eurostat
Euro Area annual inflation was 2.6% in April 2012, down from 2.7% in March. A year earlier the rate was 2.8%. Monthly inflation was 0.5% in April 2012.
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Euro Area unemployment rate at 10.9%
Published: 5/3/2012 6:38:28 PM
By: TradingEconomics.com, Eurostat
The euro area (EA17) seasonally-adjusted unemployment rate was 10.9% in March 2012, compared with 10.8% in February. It was 9.9% in March 2011. The EU27 unemployment rate was 10.2% in March 2012, stable compared with February. It was 9.4% in March 2011.
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ECB Keeps Monetary Policy Unchanged
Published: 5/3/2012 1:59:37 PM
By: TradingEconomics.com, ECB
At the meeting on May 3rd, the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 1.00%, 1.75% and 0.25% respectively.
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Euro Area Reports Trade Surplus in February
Published: 4/18/2012 12:14:10 PM
By: TradingEconomics.com, Eurostat
The first estimate for the euro area1 (EA17) trade in goods balance with the rest of the world in February 2012 gave a 2.8 bn euro surplus, compared with -2.8 bn in February 2011. The January 20122 balance was -7.9 bn, compared with -16.1 bn in January 2011.
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Euro Area Annual Inflation Stable at 2.7%
Published: 4/18/2012 11:41:55 AM
By: TradingEconomics.com, Eurostat
Euro Area annual inflation was 2.7% in March 2012, unchanged compared with February. A year earlier the rate was 2.7%. Monthly inflation was 1.3% in March 2012.
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ECB leaves Interest Rates Unchanged
Published: 4/4/2012 3:02:21 PM
By: TradingEconomics.com, ECB
The European Central Bank left interest rates unchanged as policy makers balance the threat of inflation in Germany against the need to fight the sovereign debt crisis.
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Euro Area Unemployment Rate at 10.8%
Published: 4/2/2012 11:14:35 AM
By: TradingEconomics.com, Eurostat
The euro area (EA17) seasonally-adjusted unemployment rate was 10.8% in February 2012, compared with 10.7% in January. It was 10.0% in February 2011.
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Euro Area Reports Trade Deficit in January
Published: 3/16/2012 5:31:44 PM
By: TradingEconomics.com, Eurostat
The first estimate for the euro area (EA17) trade in goods balance with the rest of the world in January 2012 gave a 7.6 bn euro deficit, compared with -16.1 bn in January 2011.
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Euro Area Annual Inflation Stable at 2.7%
Published: 3/14/2012 3:52:19 PM
By: TradingEconomics.com, Eurostat
Euro area annual inflation was 2.7% in February 2012, unchanged compared with January. A year earlier the rate was 2.4%. Monthly inflation was 0.5% in February 2012.
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