Euro area external trade deficit 5.6 bn euro and 23.0 bn euro deficit for EU27
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The first estimate for the euro area (EA15) trade balance with the rest of the world in September 2008 gave a 5.6 bn euro deficit, compared with +2.9 bn in September 2007. The August 2008 balance was -9.4 bn, compared with +1.1 bn in August 2007. In September 2008 compared with August 2008, seasonally adjusted exports rose by 2.2% and imports by 2.1%.
The first estimate for the September 2008 extra-EU27 trade balance was a deficit of 23.0 bn euro, compared with -16.6 bn in September 2007. In August 2008, the balance was -27.5 bn, compared with -16.6 bn in August 2007. In September 2008 compared with August 2008, seasonally adjusted exports rose by 1.7% and imports by 0.2%.
EU27 January-August 2008 detailed results
The EU27 energy deficit increased (-253.7 bn euro in January-August 2008 compared with -169.4 bn in January-August 2007), while the surplus for machinery and vehicles rose (+101.7 bn compared with +78.3 bn). EU27 trade with most of its major partners grew, with the exception of exports to the USA (-5% in January-August 2008 compared with January-August 2007) and Japan (-4%), and imports from South Korea (-8%) and Japan (-4%). The largest increases were recorded for exports to Russia (+24%) and Brazil (+23%), and for imports from Norway (+31%) and Russia (+30%).
The EU27 trade surplus fell with the USA (+42.5 bn in January-August 2008 compared with +52.2 bn in January-August 2007), while it increased with Switzerland (+12.1 bn compared with +10.1 bn). The EU27 trade deficit grew with Russia (-51.7 bn compared with -37.0 bn) and Norway (-34.1 bn compared with -20.4 bn), and remained nearly stable with China (-101.9 bn compared with -101.6 bn) and Japan (-22.0 bn compared with -23.0 bn).
Concerning the total trade of Member States, the largest surplus was observed in Germany (+127.4 bn euro in January-August 2008), followed by the Netherlands (+27.9 bn) and Ireland (+17.2 bn). The United Kingdom (-82.2 bn) registered the largest deficit, followed by Spain (-65.1 bn), France (-44.2 bn) and Greece (-24.0 bn), Malta stood at -0.9 bn.
This data is released by Eurostat, the Statistical Office of the European Communities.