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Euro area external trade deficit €14.8bn

The first estimate for the euro area (EA17) trade balance with the rest of the world in January 2011 gave a €14.8bn deficit, compared with -9.7bn in January 2010.

The December 2010 balance was -0.5bn, compared with +3.2bn in December 2009. In January 2011 compared with December 2010, seasonally adjusted exports rose by 3.6% and imports by 5.3%.

The first estimate for the January 2011 extra-EU27 trade balance was a €29.8bn deficit, compared with -22.7bn in January 2010. In December 2010 the balance was -10.9bn, compared with -2.9bn in December 2009. In January 2011 compared with December 2010, seasonally adjusted exports rose by 6.4% and imports by 4.8%.

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

EU27 2010 detailed results
The EU27 deficit increased for energy (€-297.1bn in 2010 compared with -240.2bn in 2009), while the surplus for manufactured goods rose (+177.9bn compared with +163bn). EU27 trade with all its major partners grew in 2010 compared with 2009. The most notable increases were recorded for exports to Brazil (+45%), Turkey (+39%) and China (+37%), and for imports from China and Russia (both +32%) and India (+30%).

The EU27 trade surplus increased with the USA (€+73.1bn in 2010 compared with +46.4 bn in 2009), Switzerland (+21.3bn compared with +14.7bn) and Turkey (+19.2bn compared with +8bn). The EU27 trade deficit increased with China (-168.9bn compared with -131.7bn), Russia (-68.4bn compared with -51.6bn) and Norway (-37.3bn compared with -31.4bn). The deficit remained nearly stable with Japan (-21.1bn compared with -20.7bn) and stable with South Korea (-10.6bn).

Concerning the total trade of Member States, the largest surplus was observed in Germany (€+152.4bn in 2010), followed by Ireland (+43.4bn), the Netherlands (+42.3bn) and Belgium (+16.4bn). The United Kingdom (-115.5bn) registered the largest deficit, followed by France (-64.1bn), Spain (-51.8bn), Italy (-27.3bn), Greece (-22.4bn), Portugal (-20bn) and Poland (-13.5bn).






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