Euro Area Trade Surplus Widens in September
In September of 2013, Euro Area’s trade surplus in goods increased to €13.1 billion, from €8.6 billion a year earlier. Exports rose by a non seasonally adjusted 2.7 percent on an annual basis, while imports remained unchanged.
In September, Euro Area exports amounted to €158 billion, while imports were registered at €145 billion. In the period of January-August of 2013, sales of food and drink recorded the highest annual growth rate (7 percent), while raw materials dropped by 4 percent. Within imports, food and drink rose by 2 percent, while purchases of energy went down by 7 percent.
The European Union deficit for energy decreased (€-255.5 bn euro in January-August 2013 compared with €-280.8 bn in January-August 2012), while the surplus for manufactured goods increased (€260.4 bn compared with €227.9 bn).
Purchases from most of EU’s major partners fell in the same period, except for Turkey (+4 percent) and India (0 percent). The most notable decreases were recorded for imports from Japan (-17 percent), Brazil (-15 percent) and Norway (-11 percent). As regards exports the pattern was mixed. The largest increases registered for exports to Switzerland (+32 percent) and Turkey (+5 percent) and the most notable falls for exports to India (-4 percent), the USA and Japan (both -3 percent).
The trade surplus increased significantly with Switzerland (€56.2 bn compared with €23.8) and more moderately with the USA (€59.9 bn compared with €56.2 bn), Turkey (€19.4 bn compared with €17.9 bn) and Brazil (€5.0 bn compared with €0.4 bn). The EU trade deficit fell with China (€-85.1 bn compared with €-96.1 bn), Russia (€-58.6 bn compared with €-59.9 bn), Norway (€-27.7 bn compared with €-36.2 bn) and Japan (€-1.4 bn compared with €-7.4 bn).
Concerning the total trade of Member States, the largest surplus was observed in Germany (€127.8 bn euro in January-August 2013), followed by the Netherlands (€36.0 bn), Ireland (€25.3 bn), Italy (€19.3 bn) and Belgium (€11.4 bn). France (€-50.1 bn) registered the largest deficit, followed by the United Kingdom (€-44.5 bn) and Greece (€-12.9 bn).
11/18/2013 10:51:13 AM