Euro Area Trade Surplus Widens in August



In August, the Euro Area trade balance in goods with the rest of the world rose to €7.1 billion, compared with €4.6 bn in August of 2012. Exports were up 1.0 percent on the year and imports edged up 0.2 percent.

The European Union deficit for energy decreased (€-221.7 bn in January-July 2013 compared with €-244.0 bn in the same period of 2012), while the surplus for manufactured goods increased (€233.3 bn compared with €200.3 bn). 

Purchases from most of EU's major partners fell during the same period, except for Turkey (+4 percent) and India (+1 percent). The most notable decreases were recorded for imports from Japan (-17 percent), Brazil (-14 percent) and Norway (-11 percent). As regards exports the pattern was mixed. The largest increases were registered for sales to Switzerland (+33 percent) and Turkey (+7 percent), while falls were recorded for shipments to the USA, China, Japan and India (all -3 percent). 

The trade surplus increased significantly with Switzerland (€50.1 bn compared with €23.5 bn) and rose more moderately with the USA (€52.5 bn compared with €41.4 bn), Turkey (€17.4 bn compared with €15.4 bn) and Brazil (€4.5 bn compared with €0.4 bn). The EU trade deficit fell with China (€-72.9 bn compared with €-81.4 bn), Russia (€-51.0 bn compared with €-53.2 bn) and Norway (€-24.2 bn compared with €-32.0 bn).

Concerning the total trade of Member States, the largest surplus was observed in Germany (€114.4 bn), followed by the Netherlands (€32.7 bn), Ireland (€22.3 bn) and Italy (€18.3 bn). France (€-44.2 bn) registered the largest deficit, followed by the United Kingdom (€-38.0 bn) and Greece (€-11.1 bn). 

Euro Area Trade Surplus Widens in August


Eurostat | Nuno Fontes | nuno@tradingeconomics.com
10/16/2013 2:48:27 PM