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Euro area external trade deficit €8.9 bn, € 22.5 bn in EU27

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Euro area external trade deficit €8.9 bn, € 22.5 bn for EU27The first estimate for the euro area (EA16) trade balance with the rest of the world in January 2010 gave a 8.9 bn euro deficit, compared with -12.1 bn in January 2009. The December 20092 balance was +4.1 bn, compared with -1.7 bn in December 2008.

The first estimate for the January 2010 extra-EU27 trade balance was a 22.5 bn euro deficit, compared with -28.0 bn in January 2009. In December 20092 the balance was -2.5 bn, compared with -11.2 bn in December 2008. These data are released by Eurostat, the statistical office of the European Union.

EU27 2009 detailed results

The EU27 deficit decreased significantly for energy (-233.8 bn euro in 2009 compared with -375.1 bn in 2008) and for raw materials (-19.1 bn compared with -43.5 bn). The surplus fell for machinery and vehicles (+112.4 bn compared with +153.5 bn), but rose for chemicals (+81.6 bn compared with +74.5 bn).

EU27 trade flows with all of its major partners fell in 2009, except for exports to China (+4% in 2009 compared with 2008). The largest decreases were recorded for exports to Russia (-37%), Turkey (-19%), the USA and Brazil (both -18%), and for imports from Russia (-35%), Brazil (-29%), Norway (-28%), Japan (-26%) and Turkey

(-22%). The smallest falls were observed for trade with Switzerland, for both exports (-10%) and imports (-8%). The EU27 trade surplus fell with the USA (+44.5 bn euro in 2009 compared with +63.2 bn in 2008) and Switzerland (+14.8 bn compared with +17.7 bn). The EU27 trade deficit decreased with China (-133.1 bn compared with -169.5 bn), Russia (-49.7 bn compared with -72.8 bn), Norway (-31.1 bn compared with -52.1 bn) and Japan (-19.8 bn compared with -32.9 bn).

Concerning the total trade of Member States, the largest surplus was observed in Germany (+135.8 bn euro in 2009), followed by the Netherlands (+37.9 bn), Ireland (+37.4 bn) and Belgium (+12.8 bn). The United Kingdom (-92.6 bn) registered the largest deficit, followed by France (-54.5 bn), Spain (-49.5 bn), Greece (-28.5 bn) and Portugal (-19.0 bn).

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