Euro area external trade surplus 5.2 bn euro 7.4 bn euro deficit for EU27

The first estimate for the euro area1 (EA16) trade balance with the rest of the world in October 2010 gave a 5.2 bn euro surplus, compared with +4.8 bn in October 2009. The September 20102 balance was +2.6 bn, compared with +1.4 bn in September 2009. In October 2010 compared with September 2010, seasonally adjusted exports fell by 0.1%, and imports by 1.3%. The first estimate for the October 2010 extra-EU271 trade balance was a 7.4 bn euro deficit, compared with -6.4 bn in October 2009. In September 2010 the balance was -11.8 bn, compared with -10.5 bn in September 2009. In October 2010 compared with September 2010, seasonally adjusted exports rose by 0.1%, while imports fell by 3.0%.

These data are released by Eurostat, the statistical office of the European Union. EU27 detailed results for January to September 2010. The EU27 deficit increased for energy (-214.5 bn euro in January-September 2010 compared with -172.8 bn in January-September 2009), while the surplus for manufactured goods rose (+124.9 bn compared with +112.2 bn). EU27 trade with all its major partners grew in January-September 2010 compared with January-September 2009. The most notable increases were recorded for exports to Brazil (+53%), China (+39%) and Turkey (+36%), and for imports from Russia (+37%), China (+30%) and India (+28%). The EU27 trade surplus increased with the USA (+52.8 bn euro in January-September 2010 compared with +31.8 bn in January-September 2009), Switzerland (+13.8 bn compared with +10.2 bn) and Turkey (+13.1 bn compared with +5.8 bn). The EU27 trade deficit increased with China (-122.2 bn compared with -97.8 bn), Russia (-52.1 bn compared with -35.0 bn), Norway (-26.8 bn compared with -24.5 bn) and South Korea (-8.9 bn compared with -8.6 bn). The deficit remained stable with Japan (-15.9 bn).

Concerning the total trade of Member States, the largest surplus was observed in Germany (+113.5 bn euro in January-September 2010), followed by Ireland (+31.8 bn), the Netherlands (+30.6 bn) and Belgium (+14.1 bn). The United Kingdom (-84.8 bn) registered the largest deficit, followed by France (-46.3 bn), Spain (-39.0 bn), Italy (-19.2 bn), Greece (-17.7 bn) and Portugal (-14.6 bn). 

News source: Eurostat link: article