Euro Area Trade Surplus Narrows in December



In December, Euro Area trade surplus narrowed to €13.9 billion from a revised €17.0 billion in the previous month but was up from €9.8 billion a year earlier. During 2013, Euro Area trade in goods recorded a surplus of €153.8 billion, compared with €79.7 billion in 2012.

The European Union deficit for energy decreased (€-351.4 bn euro in January-November 2013 compared with €-388.4 bn in January-November 2012), while the surplus for manufactured goods increased (€354.0 bn compared with €322.8 bn). 

EU purchases from most of its major partners fell in January-November 2013 compared with the same period of 2012, except for Turkey (+3 percent). The most notable decreases were recorded for imports from Japan (-14 percent), Brazil (-13 percent), Switzerland and Norway (both -12 percent). 

The pattern was mixed for EU exports, with the largest increases registered for exports to Switzerland (+28 percent) and South Korea (+6 percent), and the most notable falls for exports to India (-7 percent) and Japan (-4 percent). 

The Union's trade surplus increased significantly with Switzerland (€70.9 bn euro compared with €24.6 bn) and more moderately with the USA (€84.3 bn compared with €80.5 bn), Turkey (€25.8 bn compared with €25.0 bn) and Brazil (€6.6 bn compared with €1.4 bn).  The EU trade deficit fell with China (€-121.6 bn compared with €-136.8 bn), Russia (€-78.1 bn compared with €-82.6 bn), Norway (€-35.9 bn compared with €-47.0 bn) and Japan (€-2.5 bn compared with €-8.9 bn). 

Concerning the total trade of Member States, the largest surplus was observed in Germany (€185.5 bn), followed by the Netherlands (€50.6 bn), Ireland (€34.6 bn), Italy (€26.8 bn) and Belgium (+13.9 bn). The United Kingdom (€-78.6 bn) registered the largest deficit, followed by France (€-69.9 bn), Greece (€-17.9 bn) and Spain (€-14.4 bn). 

Euro Area Trade Surplus Narrows in December


Eurostat | Nuno Fontes | nuno@tradingeconomics.com
2/14/2014 10:16:35 AM