STAT/07/180 18 December 2007
October 2007 Euro area external trade surplus 6.1 bn euro 14.2 bn euro deficit for EU27
The first estimate for the euro area1 (EA13) trade balance with the rest of the world in October 2007 gave a 6.1 bn euro surplus, compared with +2.4 bn in October 2006. The September 20072 balance was +3.7 bn, compared with +2.3 bn in September 2006. In October 2007 compared with September 2007, seasonally adjusted exports rose by 2.3% and imports by 2.0%.
The first estimate for the October 2007 extra-EU271 trade balance was a deficit of 14.2 bn euro, compared with 14.9 bn in October 2006. In September 20072, the balance was -16.7 bn, compared with -14.7 bn in September 2006. In October 2007 compared with September 2007, seasonally adjusted exports rose by 1.6% and imports by 0.6%.
These data3 are released by Eurostat, the Statistical Office of the European Communities.
EU27 January-September 2007 detailed results
The EU27 energy deficit decreased (-189.7 bn euro in January-September 2007 compared with -214.9 bn in January-September 2006), while the surplus rose for machinery and vehicles (+92.8 bn compared with +69.6 bn).
EU27 trade with most of its major partners grew, with the exception of exports to the USA (-3% in January-September 2007 compared with January-September 2006) and Japan (-1%), and imports from Norway (-9%), Russia (-5%) and South Korea (0%). The largest increases were recorded for exports to Russia (+26%), India (+21%), Brazil (+17%), China and Norway (both +13%), and for imports from China (+21%), Brazil (+18%), India (+16%) and Turkey (+13%).
The EU27 trade surplus fell with the USA (+59.6 bn euro in January-September 2007 compared with +66.9 bn in January-September 2006), but increased with Switzerland (+11.6 bn compared with +11.1 bn). The EU27 trade deficit grew with China (-115.7 bn compared with -92.3 bn) and Japan (-25.1 bn compared with -24.5 bn), but decreased with Russia (-39.9 bn compared with -58.1 bn), Norway (-23.8 bn compared with -32.9 bn) and South Korea (-11.2 bn compared to -13.0 bn).
Concerning the total trade of Member States, the largest surplus was observed in Germany (+146.8 bn euro in January-September 2007), followed by the Netherlands (+29.9 bn), Ireland (+23.0 bn), Belgium (+12.1 bn) and Sweden (+10.1 bn). The United Kingdom (-100.0 bn) registered the largest deficit, followed by Spain (-69.0 bn), France (-31.3 bn), Greece (-28.2 bn), Romania (-15.0 bn), Portugal (-13.5 bn) and Poland (-11.9 bn).
EA13 trade - non seasonally adjusted databn euro
Flows Oct 07 Oct 06 Growth Sep 07 Sep 06 Growth Jan-Oct 07 Jan-Oct 06 Growth Extra-EA13 exports 141.0 127.5 11% 125.3 r 121.4 3% r 1 246.9 1 142.2 9% Extra-EA13 imports 134.8 125.1 8% 121.7 r 119.1 2% r 1 216.5 1 162.3 5% Extra-EA13 trade balance 6.1 2.4 3.7 r 2.3 30.3 -20.1 Intra-EA13 dispatches4 136.3 127.8 7% 124.4 r 121.5 2% 1 243.1 1 162.1 7% EU27 trade - non seasonally adjusted databn euro
Flows Oct 07 Oct 06 Growth Sep 07 Sep 06 Growth Jan-Oct 07 Jan-Oct 06 Growth Extra-EU27 exports 115.4 106.0 9% 102.2 r 100.8 1% 1 027.0 956.3 7% Extra-EU27 imports 129.6 120.9 7% 118.9 r 115.5 3% r 1 177.6 1 129.2 4% Extra-EU27 trade balance -14.2 -14.9 -16.7 r -14.7 -150.6 -172.9 Intra-EU27 dispatches4 243.7 224.9 8% 222.2 r 214.8 3% r 2 199.1 2 073.5 6% r: Revised
From 1 January 2007 the euro area (EA13) consists of Belgium, Germany, Ireland, Greece, Spain, France, Italy, Luxembourg, the Netherlands, Austria, Portugal, Slovenia and Finland.The EU27 includes Belgium (BE), Bulgaria (BG), the Czech Republic (CZ), Denmark (DK), Germany (DE), Estonia (EE), Ireland (IE), Greece (EL), Spain (ES), France (FR), Italy (IT), Cyprus (CY), Latvia (LV), Lithuania (LT), Luxembourg (LU), Hungary (HU), Malta (MT), the Netherlands (NL), Austria (AT), Poland (PL), Portugal (PT), Romania (RO), Slovenia (SI), Slovakia (SK), Finland (FI), Sweden (SE) and the United Kingdom (UK).
The first estimates for September 2007 were +3.1 bn euro for the euro area and -16.5 bn for the EU27. See News Release 156/2007 issued on 16 November 2007. This News Release is based on data available on 13 December 2007. These are provisional figures based on information provided by Member States. They are subject to frequent revision for up to two years after the month in question. Furthermore, national concepts may differ from the harmonised methodology used by Eurostat, leading to differences between figures in this release and those published nationally, both for raw data and for seasonally adjusted series.The next News Release including revised data for October 2007 and first estimates for November 2007 will be issued on 17 January 2008.
Since the introduction of Intrastat for intra-EU trade on 1 January 1993, the value of dispatches has been consistently higher than that of arrivals. In theory, as dispatches are declared FOB and arrivals CIF, the value of arrivals should be slightly higher than that of dispatches. Eurostat uses dispatches as the more reliable measure of total intra-EU trade as, at aggregated levels, total dispatches has better coverage than total arrivals. Due to this divergence in intra-EU trade, and to the difficulties of interpreting figures in absolute terms at the level of individual Member States, trade balances for individual Member States must be interpreted with caution. The same caution applies to the trade balance of the euro area, which includes some intra-EU trade. Issued by: Eurostat Press Office Tim ALLEN Tel: +352-4301-33 444 eurostat-pressoffice@ec.europa.eu For further information on data: Gilberto GAMBINI Tel: +352-4301-35 806 Karo NUORTILA Tel: +352-4301-34 802 estat-etfree@ec.europa.eu Eurostat news releases on the Internet:
http://ec.europa.eu/eurostat Selected Principal European Economic Indicators: http://ec.europa.eu/eurostat/euroindicators
EA13 trade - previous 6 months - non seasonally adjusted databn euro
Flows Aug 07 Jul 07 Jun 07 May 07 Apr 07 Mar 07 Extra-EA13 exports 119.1 r 129.4 129.5 r 123.7 r 119.4 r 131.2 Extra-EA13 imports 117.1 r 123.6 121.6 r 121.7 116.8 r 123.0 Extra-EA13 trade balance 2.0 r 5.8 r 7.9 r 2.0 r 2.6 r 8.2 r Intra-EA13 dispatches 105.3 r 125.3 r 129.5 r 125.0 r 120.2 r 135.3 EU27 trade - previous 6 months - non seasonally adjusted databn euro
Flows Aug 07 Jul 07 Jun 07 May 07 Apr 07 Mar 07 Extra-EU27 exports 100.5 r 107.6 107.4 102.0 r 99.3 r 107.5 Extra-EU27 imports 116.5 121.0 r 116.6 r 116.7 r 112.0 r 118.0 Extra-EU27 trade balance -16.0 r -13.4 -9.1 r -14.7 r -12.7 r -10.4 r Intra-EU27 dispatches 194.4 r 219.4 r 227.7 r 221.3 r 211.0 r 237.4 r r: revised
Main products – EA13 - non seasonally adjusted databn euro
EA13 exports EA13 imports Trade balance Jan-Sep 07 Jan-Sep 06 Growth Jan-Sep 07 Jan-Sep 06 Growth Jan-Sep 07 Jan-Sep 06 Primary products: 133.0 122.5 9% 315.8 327.6 -4% -182.8 -205.1 Food & drink 65.6 59.6 10% 57.9 53.0 9% 7.7 6.6 Crude materials 24.7 22.3 10% 52.9 46.3 14% -28.2 -23.9 Energy 42.7 40.5 5% 205.1 228.3 -10% -162.3 -187.8 Manufactured goods: 946.6 868.4 9% 750.7 696.5 8% 195.9 171.9 Chemicals 173.7 156.9 11% 108.0 97.1 11% 65.7 59.8 Machinery & vehicles 486.8 450.1 8% 348.1 341.0 2% 138.7 109.1 Other manuf’d articles 286.1 261.4 9% 294.6 258.4 14% -8.5 3.0 Other 26.4 23.8 11% 15.2 13.1 16% 11.1 10.7 Total 1 105.9 1 014.7 9% 1 081.7 1 037.2 4% 24.2 -22.6 Main products - EU27 - non seasonally adjusted databn euro
EU27 exports EU27 imports Trade balance Jan-Sep 07 Jan-Sep 06 Growth Jan-Sep 07 Jan-Sep 06 Growth Jan-Sep 07 Jan-Sep 06 Primary products: 112.2 108.7 3% 341.1 356.8 -4% -228.9 -248.1 Food & drink 44.6 41.7 7% 53.9 50.0 8% -9.3 -8.3 Crude materials 22.8 21.0 9% 52.7 45.9 15% -29.9 -24.9 Energy 44.7 46.0 -3% 234.5 260.9 -10% -189.7 -214.9 Manufactured goods: 773.3 718.5 8% 682.6 630.7 8% 90.8 87.8 Chemicals 147.8 136.3 8% 90.6 80.2 13% 57.2 56.1 Machinery & vehicles 396.3 369.1 7% 303.4 299.5 1% 92.8 69.6 Other manuf’d articles 229.3 213.1 8% 288.6 251.0 15% -59.2 -37.9 Other 26.1 23.2 13% 24.3 20.9 17% 1.8 2.3 Total 911.6 850.3 7% 1 048.0 1 008.3 4% -136.4 -158.0 Main trading partners – EA13 - non seasonally adjusted data bn euro
EA13 exports to EA13 imports from Trade balance Jan-Sep 07 Jan-Sep 06 Growth Jan-Sep 07 Jan-Sep 06 Growth Jan-Sep 07 Jan-Sep 06 United Kingdom 170.0 161.3 5% 122.3 124.3 -2% 47.6 37.0 United States 145.7 148.4 -2% 97.6 96.6 1% 48.1 51.8 China 43.7 38.7 13% 123.7 102.8 20% -80.0 -64.1 Russia 47.9 38.5 24% 70.0 73.4 -5% -22.1 -35.0 Switzerland 60.4 56.0 8% 49.7 45.8 8% 10.7 10.1 Poland 52.4 43.2 21% 35.4 30.2 17% 16.9 13.0 Sweden 40.8 36.0 13% 37.6 34.5 9% 3.2 1.4 Czech Republic 35.8 30.6 17% 34.3 28.4 21% 1.5 2.2 Japan 25.8 25.6 1% 43.1 42.3 2% -17.4 -16.6 Turkey 29.9 28.9 4% 23.6 21.7 9% 6.3 7.2 Main trading partners - EU27 - non seasonally adjusted databn euro
EU27 exports to EU27 imports from Trade balance Jan-Sep 07 Jan-Sep 06 Growth Jan-Sep 07 Jan-Sep 06 Growth Jan-Sep 07 Jan-Sep 06 United States 195.6 200.9 -3% 136.0 134.0 2% 59.6 66.9 China 52.2 46.0 13% 167.9 138.4 21% -115.7 -92.3 Russia 63.4 50.1 26% 103.3 108.3 -5% -39.9 -58.1 Switzerland 68.6 64.0 7% 57.0 52.9 8% 11.6 11.1 Japan 33.0 33.2 -1% 58.2 57.8 1% -25.1 -24.5 Norway 31.7 28.1 13% 55.5 61.1 -9% -23.8 -32.9 Turkey 38.5 37.2 3% 34.7 30.7 13% 3.7 6.5 South Korea 18.3 16.7 10% 29.5 29.6 0% -11.2 -13.0 India 21.0 17.4 21% 19.9 17.2 16% 1.1 0.2 Brazil 15.4 13.2 17% 23.5 19.9 18% -8.1 -6.7 Member States’ total trade (intra-EU + extra-EU) - non seasonally adjusted databn euro
Total exports Total imports Trade balance Jan-Sep 07 Jan-Sep 06 Growth Jan-Sep 07 Jan-Sep 06 Growth Jan-Sep 07 Jan-Sep 06 Belgium 235.2 217.5 8% 223.2 208.3 7% 12.1 9.2 Bulgaria 9.7 8.7 12% 15.6 10.8 44% -5.8 -2.1 Czech Republic 64.7 54.6 18% 62.3 53.4 17% 2.4 1.3 Denmark 55.4 54.4 2% 53.2 50.0 7% 2.1 4.5 Germany 718.1 649.7 11% 571.3 537.5 6% 146.8 112.1 Estonia 5.9 5.7 3% 8.2 7.9 4% -2.3 -2.2 Ireland 66.7 64.3 4% 43.7 42.4 3% 23.0 21.9 Greece 12.8 12.3 4% 41.1 37.7 9% -28.2 -25.4 Spain 130.2 125.8 4% 199.3 193.0 3% -69.0 -67.2 France 300.4 292.9 3% 331.7 320.8 3% -31.3 -28.0 Italy 264.9 237.5 12% 272.6 256.2 6% -7.7 -18.7 Cyprus 0.8 0.8 -5% 4.4 4.1 7% -3.7 -3.3 Latvia 4.4 3.6 23% 8.2 6.5 26% -3.8 -2.9 Lithuania 9.3 8.5 10% 13.0 11.3 15% -3.7 -2.9 Luxembourg 11.9 13.8 -13% 14.6 15.9 -8% -2.6 -2.1 Hungary 50.4 43.2 17% 50.8 45.2 12% -0.4 -2.0 Malta 1.6 1.5 3% 2.3 2.3 0% -0.7 -0.8 Netherlands 293.1 271.5 8% 263.2 244.6 8% 29.9 26.9 Austria 86.2 79.6 8% 86.2 80.5 7% 0.1 -0.9 Poland 72.9 64.3 13% 84.8 73.0 16% -11.9 -8.8 Portugal 27.8 25.6 9% 41.3 39.5 5% -13.5 -13.9 Romania 21.5 19.2 12% 36.5 28.7 27% -15.0 -9.6 Slovenia 16.2 13.5 20% 16.8 13.8 22% -0.6 -0.3 Slovakia 30.6 23.7 29% 31.4 25.2 25% -0.8 -1.6 Finland 49.0 45.1 9% 44.0 40.5 9% 5.0 4.6 Sweden 90.3 85.6 5% 80.2 73.3 9% 10.1 12.3 United Kingdom 236.8 276.2 -14% 336.8 367.2 -8% -100.0 -91.0 Annex - Seasonally adjusted data
Seasonally adjusted series have been calculated using one harmonised methodology. The seasonally adjusted series give a complementary view of the monthly evolution of trade. Seasonally adjusted figures may not match those published by Member States, due to differences in the raw data3, in the choice of seasonal adjustment model and to the use of series in national currency or in euro.
EA13 trade - seasonally adjusted databn euro
Flows Oct 07 Sep 07 Aug 07 Jul 07 Jun 07 May 07 Growth: Oct/Sep Sep/Aug Aug/Jul Jul/Jun Jun/May Extra-EA13 exports 130.1 127.3 128.9 125.6 126.3 123.1 2.3% -1.2% 2.6% -0.5% 2.6% Extra-EA13 imports 126.1 123.6 124.8 124.3 121.2 119.1 2.0% -0.9% 0.3% 2.6% 1.8% Extra-EA13 trade balance 4.0 3.6 4.1 1.3 5.1 4.0 Intra-EA13 dispatches 125.9 124.7 126.9 126.4 124.6 122.2 1.0% -1.8% 0.5% 1.4% 1.9% EU27 trade - seasonally adjusted databn euro
Flows Oct 07 Sep 07 Aug 07 Jul 07 Jun 07 May 07 Growth: Oct/Sep Sep/Aug Aug/Jul Jul/Jun Jun/May Extra-EU27 exports 106.3 104.6 106.0 104.1 104.6 100.8 1.6% -1.3% 1.8% -0.6% 3.9% Extra-EU27 imports 121.4 120.7 120.4 120.9 117.2 114.8 0.6% 0.3% -0.4% 3.2% 2.1% Extra-EU27 trade balance -15.1 -16.1 -14.4 -16.8 -12.6 -14.0 Intra-EU27 dispatches 224.5 221.2 224.8 223.4 220.5 216.6 1.5% -1.6% 0.7% 1.3% 1.8% Contribution of EU27 Member States to extra-EU27 trade - seasonally adjusted databn euro
Total exports Total imports Trade balance Oct 07 Sep 07 Growth Oct 07 Sep 07 Growth Oct 07 Sep 07 EU27 106.3 104.6 1.6% 121.4 120.7 0.6% -15.1 -16.1 Belgium 6.1 6.1 -0.2% 7.6 7.7 -0.5% -1.5 -1.5 Bulgaria 0.5 0.5 5.0% 0.8 0.8 -7.6% -0.3 -0.4 Czech Republic 1.2 1.2 -3.9% 1.4 1.5 -0.9% -0.3 -0.2 Denmark 1.8 1.9 -3.2% 1.6 1.6 -0.3% 0.2 0.3 Germany 30.0 29.5 1.8% 22.7 21.8 4.1% 7.3 7.7 Estonia 0.2 0.1 63.6% 0.2 0.2 8.5% 0.0 0.0 Ireland 2.7 2.6 1.2% 1.7 1.5 13.2% 1.0 1.1 Greece 0.5 0.6 -19.5% 2.0 1.9 1.7% -1.5 -1.3 Spain 4.7 4.6 2.7% 9.4 9.3 1.6% -4.7 -4.7 France 12.3 12.0 2.7% 11.4 11.7 -2.6% 0.9 0.3 Italy 12.0 11.9 0.9% 13.4 13.2 1.4% -1.4 -1.3 Cyprus 0.0 0.0 64.7% 0.1 0.1 4.1% -0.1 -0.1 Latvia 0.2 0.1 3.3% 0.2 0.2 3.2% -0.1 -0.1 Lithuania 0.4 0.4 5.2% 0.4 0.4 -6.7% 0.0 -0.1 Luxembourg 0.1 0.1 -2.1% 0.5 0.5 1.4% -0.4 -0.4 Hungary 1.3 1.2 9.3% 1.9 1.9 3.2% -0.7 -0.7 Malta 0.1 0.1 8.6% 0.1 0.1 -2.3% 0.0 0.0 Netherlands 7.6 7.5 1.4% 14.7 15.1 -3.2% -7.1 -7.7 Austria 2.8 2.7 1.6% 2.2 2.3 -5.0% 0.6 0.5 Poland 1.9 1.6 14.0% 2.9 2.9 1.9% -1.1 -1.2 Portugal 0.7 0.8 -2.3% 1.2 1.2 3.7% -0.5 -0.4 Romania 0.7 0.7 11.1% 1.3 1.3 0.4% -0.5 -0.6 Slovenia 0.6 0.6 1.5% 0.5 0.6 -8.5% 0.1 0.0 Slovakia 0.5 0.5 7.9% 1.0 1.0 5.1% -0.5 -0.5 Finland 2.3 2.4 -4.1% 1.8 1.7 6.6% 0.6 0.8 Sweden 4.2 4.0 5.5% 2.7 2.7 0.8% 1.5 1.3 United Kingdom 10.8 10.9 -0.9% 17.5 17.6 -0.4% -6.7 -6.7 Seasonally adjusted data [ Figures and graphics available in PDF and WORD PROCESSED ] [ Figures and graphics available in PDF and WORD PROCESSED ]
