Malta’s exports were down 26% to €1.2 billion from €1.7 billion in the first 10 months of 2009 and imports were down 22% to €2.2 billion against €2.8 over the same period.

The first estimate for the euro area (EA16) trade balance with the rest of the world in November 2009 gave a 4.8 bn euro surplus, compared with -7.0 bn in November 2008. The October 2009 balance was +6.6 bn, compared with -1.2 bn in October 2008. In November 2009 compared with October 2009, seasonally adjusted exports fell by 0.4%, while imports rose by 0.3%.

The first estimate for the November 2009 extra-EU27 trade balance was a 5.8 bn euro deficit, compared with -24.4 bn in November 2008. In October 2009 the balance was -4.8 bn, compared with -18.3 bn in October 2008. In November 2009 compared with October 2009, seasonally adjusted exports rose by 1.9% and imports by 1.5%.

EU27 January-October 2009 detailed results

The EU27 deficit decreased for energy (-191.8 bn euro in January-October 2009 compared with -323.5 bn in January-October 2008) and for raw materials (-15.5 bn compared with -36.1 bn). The surplus fell for machinery and vehicles (+88.6 bn compared with +130.1 bn), but rose for chemicals (+66.9 bn compared with +63.6 bn).

EU27 trade flows with all of its major partners fell, except for exports to China which remained stable. The largest decreases were recorded for exports to Russia (-40% in January-October 2009 compared with January-October 2008), Turkey (-25%), Brazil (-23%), South Korea (-21%) and the USA (-20%), and for imports from Russia (-40%), Norway (-30%), Brazil (-29%), Japan (-28%) and Turkey (-25%). The smallest falls were observed for trade with Switzerland, for both exports (-12%) and imports (-9%).

The EU27 trade surplus fell with the USA (+35.9 bn euro in January-October 2009 compared with +55.9 bn in January-October 2008) and Switzerland (+11.0 bn compared with +15.0 bn). The EU27 trade deficit decreased with China (-111.3 bn compared with -138.8 bn), Russia (-39.5 bn compared with -65.2 bn), Norway (-26.4 bn compared with -43.8 bn) and Japan (-16.7 bn compared with -28.6 bn).

Concerning the total trade of Member States, the largest surplus was observed in Germany (+105.2 bn euro in January-October 2009), followed by Ireland (+32.6 bn), the Netherlands (+32.1 bn) and Belgium (+11.4 bn). The United Kingdom (-77.9 bn) registered the largest deficit, followed by France (-42.5 bn), Spain (-40.7 bn), Greece (-23.7 bn) and Portugal (-15.2 bn). Malta stood at -0.9.

These data are released by Eurostat, the statistical office of the European Union.

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