Euro area external trade surplus 8.8 bn euro – 3.8 bn euro deficit in EU27

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Euro area external trade surplus 8.8 bn euro - 3.8 bn euro deficit in EU27The first estimate for the euro area (EA16) trade balance with the rest of the world in October 2009 gave a 8.8 bn euro surplus, compared with -1.2 bn in October 2008. The September 20092 balance was +0.9 bn, compared with -6.0 bn in September 2008. In October 2009 compared with September 2009, seasonally adjusted exports fell by 0.2% and imports by 2.2%.

The first estimate for the October 2009 extra-EU27 trade balance was a 3.8 bn euro deficit, compared with -18.3 bn in October 2008. In September 20092 the balance was -11.1 bn, compared with -24.5 bn in September 2008. In October 2009 compared with September 2009, seasonally adjusted exports rose by 0.2%, while imports fell by 1.0%.

EU27 January-September 2009 detailed results

The EU27 deficit decreased for energy (-172.4 bn euro in January-September 2009 compared with -293.7 bn in January-September 2008) and for raw materials (-14.1 bn compared with -31.8 bn). The surplus fell for machinery and vehicles (+77.0 bn compared with +115.3 bn), but rose for chemicals (+58.8 bn compared with +56.8 bn).

EU27 trade flows with all of its major partners fell. The largest decreases were recorded for exports to Russia (-40% in January-September 2009 compared with January-September 2008), Turkey (-27%), Brazil (-23%), South Korea (-22%) and the USA (-20%), and for imports from Russia (-42%), Norway (-30%), Japan and Brazil (both -28%) and Turkey (-26%). The smallest falls were observed for exports to China (-1%) and imports from Switzerland (-8%).

The EU27 trade surplus fell with the USA (+30.7 bn euro in January-September 2009 compared with +48.9 bn in January-September 2008) and Switzerland (+10.1 bn compared with +13.6 bn). The EU27 trade deficit decreased with China (-99.1 bn compared with -120.4 bn), Russia (-34.6 bn compared with -61.2 bn), Norway (-24.6 bn compared with -40.5 bn) and Japan (-14.9 bn compared with -25.8 bn).

Concerning the total trade of Member States, the largest surplus was observed in Germany (+91.7 bn euro in January-September 2009), followed by Ireland (+29.7 bn), the Netherlands (+27.9 bn) and Belgium (+11.0 bn). The United Kingdom (-69.9 bn) registered the largest deficit, followed by France (-38.6 bn), Spain (-36.8 bn), Greece (-21.6 bn) and Portugal (-13.5 bn).

These data are released by Eurostat, the Statistical Office of the European Communities.

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