STAT/08/22 15 February 2008
First estimate for 2007 Euro area external trade surplus 28.3 bn euro 185.7 bn euro deficit for EU27
The first estimate for the euro area1 (EA13) trade balance with the rest of the world in December 2007 gave a 4.2 bn euro deficit, compared with +2.4 bn in December 2006. The November 20072 balance was +3.0 bn, compared with +5.3 bn in November 2006. In December 2007 compared with November 2007, seasonally adjusted exports fell by 2.5% while imports rose by 0.7%.
The first estimate for the December 2007 extra-EU271 trade balance was a deficit of 17.9 bn euro, compared with -10.1 bn in December 2006. In November 20072, the balance was -16.8 bn, compared with -12.3 bn in November 2006. In December 2007 compared with November 2007, seasonally adjusted exports fell by 4.0% and imports by 0.7%.
During 2007, euro area trade recorded a surplus of 28.3 bn euro, compared with -9.3 bn in 2006. The EU27 recorded a deficit of 185.7 bn in 2007, compared with -192.1 bn in 2006.
These data3 are released by Eurostat, the Statistical Office of the European Communities.
EU27 January-November 2007 detailed results
The EU27 energy deficit decreased (-241.2 bn euro in January-November 2007 compared with -260.0 bn in January-November 2006), while the surplus rose for machinery and vehicles (+117.5 bn compared with +91.3 bn).
EU27 trade with most of its major partners grew, with the exception of exports to the USA and Japan (both -2% in January-November 2007 compared with January-November 2006), and imports from Norway (-5%), South Korea (-3%) and Russia (-1%). The largest increases were recorded for exports to Russia (+24%), India (+21%), Brazil (+20%), China and Norway (both +13%), and for imports from China and Brazil (both +20%), India (+17%) and Turkey (+13%).
The EU27 trade surplus fell with the USA (+75.2 bn euro in January-November 2007 compared with +86.8 bn in January-November 2006) and remained nearly stable with Switzerland (+14.8 bn compared with +14.7 bn). The EU27 trade deficit grew with China (-147.6 bn compared with -119.8 bn), Japan (-31.4 bn compared with -30.0 bn) and Brazil (-10.6 bn compared with -8.6 bn), but decreased with Russia (-47.4 bn compared with -64.1 bn), Norway (-29.9 bn compared with -37.8 bn) and South Korea (-13.8 bn compared to -16.8 bn).
Concerning the total trade of Member States, the largest surplus was observed in Germany (+184.8 bn euro in January-November 2007), followed by the Netherlands (+39.8 bn), Ireland (+27.2 bn), Belgium (+13.0 bn) and Sweden (+12.3 bn). The United Kingdom (-124.4 bn) registered the largest deficit, followed by Spain (-86.6 bn), France (-40.3 bn), Greece (-35.0 bn), Romania (-19.4 bn), Portugal (-17.2 bn) and Poland (-14.8 bn).
EA13 trade - non seasonally adjusted databn euro
Flows Dec 07 Dec 06 Growth Nov 07 Nov 06 Growth Jan-Dec 07 Jan-Dec 06 Growth Extra-EA13 exports 116.6 116.5 0% 134.6 r 129.0 r 4% 1 497.6 1 382.6 8% Extra-EA13 imports 120.9 114.1 6% 131.6 r 123.7 r 6% r 1 469.3 1 391.8 6% Extra-EA13 trade balance -4.2 2.4 3.0 r 5.3 r 28.3 -9.3 Intra-EA13 dispatches4 111.8 111.0 1% 134.3 r 127.1 r 6% r 1 490.5 1 398.3 7% EU27 trade - non seasonally adjusted databn euro
Flows Dec 07 Dec 06 Growth Nov 07 Nov 06 Growth Jan-Dec 07 Jan-Dec 06 Growth Extra-EU27 exports 97.9 99.7 -2% 111.4 108.1 r 3% r 1 236.5 1 159.8 7% Extra-EU27 imports 115.9 109.7 6% 128.2 120.4 r 6% 1 422.2 1 351.9 5% Extra-EU27 trade balance -17.9 -10.1 -16.8 -12.3 r -185.7 -192.1 Intra-EU27 dispatches4 198.3 195.4 1% 239.4 r 225.0 r 6% r 2 640.9 2 491.2 6% r: Revised
The euro area (EA13) consisted of 13 Member States up to 31 December 2007: Belgium, Germany, Ireland, Greece, Spain, France, Italy, Luxembourg, the Netherlands, Austria, Portugal, Slovenia and Finland. From 1 January 2008 the euro area (EA15) also includes Cyprus and Malta.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).
As part of Eurostat's guidelines for the dissemination of data when the EU or euro area is enlarged, the aggregate data series commented on in this News Release refer to the official composition of the euro area in the most recent month for which data is available. Thus News Releases with data for months up to December 2007 comment on EA13 series, while Releases with data for January 2008 onwards will comment on EA15 series.
The first estimates for November 2007 were +2.6 bn euro for the euro area and -16.8 bn for the EU27. See News Release 9/2008 issued on 17 January 2008. This News Release is based on data available on 12 February 2008. 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 December 2007 and first estimates for January 2008 will be issued on 19 March 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 Oct 07 Sep 07 Aug 07 Jul 07 Jun 07 May 07 Extra-EA13 exports 140.0 r 125.6 r 119.2 r 129.5 r 129.6 r 123.7 Extra-EA13 imports 134.5 r 121.8 r 117.3 123.7 r 121.6 121.7 Extra-EA13 trade balance 5.5 r 3.8 r 1.9 r 5.8 r 8.0 r 2.0 Intra-EA13 dispatches 137.2 r 124.4 r 105.2 125.5 r 129.6 r 125.0 EU27 trade - previous 6 months - non seasonally adjusted databn euro
Flows Oct 07 Sep 07 Aug 07 Jul 07 Jun 07 May 07 Extra-EU27 exports 115.5 102.3 100.4 107.7 r 107.6 r 102.0 Extra-EU27 imports 129.8 118.8 116.7 121.1 r 116.6 116.8 Extra-EU27 trade balance -14.3 -16.5 -16.2 -13.4 -9.0 r -14.8 Intra-EU27 dispatches 245.0 r 222.9 r 194.7 r 219.9 r 227.8 r 221.5 r EA15 trade - previous 6 months - non seasonally adjusted databn euro
Flows Oct 07 Sep 07 Aug 07 Jul 07 Jun 07 May 07 Extra-EA15 exports 139.6 125.1 r 118.9 r 129.1 r 129.3 r 123.3 Extra-EA15 imports 134.7 122.0 r 117.5 r 123.9 r 121.7 121.9 r Extra-EA15 trade balance 4.9 3.1 1.3 r 5.3 r 7.6 r 1.4 r Intra-EA15 dispatches 137.9 125.2 r 105.8 126.1 r 130.2 125.7 r: revised
Main products - EA13 - non seasonally adjusted databn euro
EA13 exports EA13 imports Trade balance Jan-Nov 07 Jan-Nov 06 Growth Jan-Nov 07 Jan-Nov 06 Growth Jan-Nov 07 Jan-Nov 06 Primary products: 166.9 151.8 10% 397.9 399.6 0% -231.1 -247.8 Food & drink 83.4 75.4 11% 73.7 66.4 11% 9.7 9.0 Crude materials 30.3 27.8 9% 65.2 58.5 11% -34.8 -30.7 Energy 53.2 48.6 9% 259.0 274.8 -6% -205.9 -226.2 Manufactured goods: 1 182.0 1 084.5 9% 932.1 861.9 8% 249.9 222.6 Chemicals 216.2 195.6 11% 133.0 120.5 10% 83.2 75.1 Machinery & vehicles 609.2 559.5 9% 437.3 418.8 4% 172.0 140.7 Other manuf’d articles 356.5 329.3 8% 361.8 322.5 12% -5.3 6.8 Other 32.1 29.7 8% 18.5 16.3 13% 13.7 13.4 Total 1 381.0 1 266.1 9% 1 348.5 1 277.8 6% 32.6 -11.7 Main products - EU27 - non seasonally adjusted databn euro
EU27 exports EU27 imports Trade balance Jan-Nov 07 Jan-Nov 06 Growth Jan-Nov 07 Jan-Nov 06 Growth Jan-Nov 07 Jan-Nov 06 Primary products: 140.4 133.6 5% 430.2 434.5 -1% -289.9 -301.0 Food & drink 56.8 53.0 7% 68.7 62.3 10% -11.9 -9.3 Crude materials 28.1 26.3 7% 64.8 57.9 12% -36.8 -31.7 Energy 55.5 54.4 2% 296.7 314.4 -6% -241.2 -260.0 Manufactured goods: 966.8 897.6 8% 846.0 781.8 8% 120.8 115.8 Chemicals 183.8 169.8 8% 111.4 100.1 11% 72.4 69.7 Machinery & vehicles 497.6 459.4 8% 380.1 368.1 3% 117.5 91.3 Other manuf’d articles 285.5 268.3 6% 354.6 313.6 13% -69.1 -45.3 Other 31.4 29.0 8% 30.1 25.8 16% 1.3 3.2 Total 1 138.6 1 060.2 7% 1 306.3 1 242.2 5% -167.8 -182.0 Main products - EA15* - non seasonally adjusted databn euro
EA15 exports EA15 imports Trade balance Jan-Oct 07 Jan-Oct 06 Growth Jan-Oct 07 Jan-Oct 06 Growth Jan-Oct 07 Jan-Oct 06 Primary products: 149.1 136.3 9% 357.2 364.8 -2% -208.1 -228.5 Food & drink 74.1 67.2 10% 66.3 60.0 11% 7.8 7.2 Crude materials 27.5 25.0 10% 59.3 52.5 13% -31.8 -27.5 Energy 47.5 44.1 8% 231.6 252.3 -8% -184.2 -208.1 Manufactured goods: 1 064.1 970.4 10% 844.1 776.0 9% 220.0 194.4 Chemicals 194.9 176.1 11% 120.9 108.8 11% 74.0 67.3 Machinery & vehicles 548.1 500.1 10% 393.1 376.1 5% 155.0 124.1 Other manuf’d articles 321.0 294.2 9% 330.1 291.2 13% -9.0 3.1 Other 29.2 26.8 9% 16.6 14.6 13% 12.6 12.1 Total 1 242.3 1 133.5 10% 1 217.9 1 155.4 5% 24.4 -21.9 * Data for EA15 are not available for November 2007.
Main trading partners - EA13 - non seasonally adjusted data bn euro
EA13 exports to EA13 imports from Trade balance Jan-Nov 07 Jan-Nov 06 Growth Jan-Nov 07 Jan-Nov 06 Growth Jan-Nov 07 Jan-Nov 06 United Kingdom 211.0 198.8 6% 152.6 152.3 0% 58.4 46.5 United States 180.4 182.7 -1% 120.0 114.4 5% 60.3 68.3 China 54.6 48.7 12% 156.1 131.3 19% -101.5 -82.6 Russia 61.7 50.5 22% 88.0 88.0 0% -26.3 -37.6 Switzerland 75.7 70.8 7% 61.9 57.1 9% 13.8 13.8 Poland 66.2 54.4 22% 44.9 38.3 17% 21.3 16.1 Sweden 51.1 45.5 12% 47.3 43.3 9% 3.8 2.2 Czech Republic 45.4 38.6 18% 43.4 35.8 21% 2.0 2.8 Japan 31.5 31.7 0% 53.2 52.0 2% -21.7 -20.4 Turkey 37.4 35.6 5% 29.2 26.7 9% 8.1 8.8 Main trading partners - EU27 - non seasonally adjusted databn euro
EU27 exports to EU27 imports from Trade balance Jan-Nov 07 Jan-Nov 06 Growth Jan-Nov 07 Jan-Nov 06 Growth Jan-Nov 07 Jan-Nov 06 United States 242.6 247.3 -2% 167.4 160.5 4% 75.2 86.8 China 65.3 57.9 13% 212.9 177.7 20% -147.6 -119.8 Russia 81.8 65.7 24% 129.2 129.9 -1% -47.4 -64.1 Switzerland 85.8 80.6 6% 71.0 65.9 8% 14.8 14.7 Japan 40.4 41.1 -2% 71.8 71.2 1% -31.4 -30.0 Norway 39.9 35.4 13% 69.8 73.2 -5% -29.9 -37.8 Turkey 48.2 45.9 5% 43.1 38.2 13% 5.1 7.7 South Korea 22.7 20.7 10% 36.4 37.5 -3% -13.8 -16.8 India 26.6 21.9 21% 24.4 21.0 17% 2.2 1.0 Brazil 19.4 16.2 20% 30.0 24.9 20% -10.6 -8.6 Main trading partners - EA15* - non seasonally adjusted data bn euro
EA15 exports to EA15 imports from Trade balance Jan-Oct 07 Jan-Oct 06 Growth Jan-Oct 07 Jan-Oct 06 Growth Jan-Oct 07 Jan-Oct 06 United Kingdom 191.2 180.1 6% 138.4 138.6 0% 52.8 41.5 United States 164.2 165.1 -1% 109.3 104.0 5% 54.8 61.1 China 49.4 43.5 14% 140.9 116.7 21% -91.5 -73.3 Russia 54.9 44.4 24% 78.9 80.7 -2% -24.0 -36.3 Switzerland 67.9 63.4 7% 56.1 51.3 9% 11.8 12.0 Poland 59.5 48.9 22% 40.5 34.3 18% 19.0 14.5 Sweden 46.1 40.7 13% 42.5 38.9 9% 3.6 1.8 Czech Republic 40.8 34.6 18% 38.9 32.2 21% 1.8 2.4 Japan 28.9 28.8 0% 48.6 47.4 3% -19.8 -18.6 Turkey 33.7 32.1 5% 26.5 24.2 10% 7.2 8.0 * Data for EA15 are not available for November 2007. Member States’ total trade (intra-EU + extra-EU) - non seasonally adjusted databn euro
Total exports Total imports Trade balance Jan-Nov 07 Jan-Nov 06 Growth Jan-Nov 07 Jan-Nov 06 Growth Jan-Nov 07 Jan-Nov 06 Belgium 291.9 269.6 8% 278.9 258.5 8% 13.0 11.1 Bulgaria 12.4 10.8 14% 19.9 13.8 44% -7.5 -3.0 Czech Republic 82.5 69.5 19% 79.3 68.0 17% 3.3 1.5 Denmark 69.3 67.6 3% 66.4 62.4 6% 3.0 5.3 Germany 894.5 810.1 10% 709.7 660.3 7% 184.8 149.8 Estonia 7.4 7.1 4% 10.2 9.8 4% -2.8 -2.7 Ireland 82.3 79.5 4% 55.0 53.1 4% 27.2 26.4 Greece 15.9 15.2 5% 50.9 46.7 9% -35.0 -31.5 Spain 162.1 156.6 4% 248.7 240.4 3% -86.6 -83.9 France 372.4 363.6 2% 412.6 397.3 4% -40.3 -33.8 Italy 331.6 298.6 11% 339.1 319.1 6% -7.6 -20.5 Cyprus 0.9 1.0 -3% 5.7 5.1 12% -4.7 -4.1 Latvia 5.5 4.5 24% 10.2 8.3 23% -4.7 -3.8 Lithuania 11.5 10.4 10% 16.1 14.1 14% -4.7 -3.7 Luxembourg 15.2 16.9 -10% 18.5 19.4 -5% -3.3 -2.5 Hungary 63.4 54.9 15% 63.7 57.2 11% -0.3 -2.3 Malta 2.0 1.9 1% 2.9 2.9 -1% -0.9 -1.0 Netherlands 368.5 338.2 9% 328.7 304.4 8% 39.8 33.8 Austria 109.9 100.0 10% 109.1 100.4 9% 0.8 -0.4 Poland 92.9 81.2 14% 107.8 92.3 17% -14.8 -11.1 Portugal 34.6 31.9 9% 51.8 48.9 6% -17.2 -17.0 Romania 27.1 23.9 14% 46.5 36.7 27% -19.4 -12.8 Slovenia 20.3 17.0 19% 21.1 17.5 21% -0.8 -0.5 Slovakia 39.1 30.5 28% 40.2 32.5 24% -1.1 -2.0 Finland 60.6 56.3 8% 54.5 50.4 8% 6.1 5.9 Sweden 113.3 107.3 6% 101.0 92.5 9% 12.3 14.8 United Kingdom 294.1 332.0 -11% 418.5 444.6 -6% -124.4 -112.6 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 Dec 07 Nov 07 Oct 07 Sep 07 Aug 07 Jul 07 Growth: Dec/Nov Nov/Oct Oct/Sep Sep/Aug Aug/Jul Extra-EA13 exports 124.1 127.3 128.3 126.8 128.4 125.4 -2.5% -0.7% 1.1% -1.3% 2.4% Extra-EA13 imports 126.2 125.4 126.0 123.5 125.0 124.7 0.7% -0.5% 2.0% -1.2% 0.2% Extra-EA13 trade balance -2.1 2.0 2.2 3.4 3.5 0.7 Intra-EA13 dispatches 122.3 125.7 126.4 124.3 126.6 126.3 -2.7% -0.6% 1.7% -1.9% 0.3% EU27 trade - seasonally adjusted databn euro
Flows Dec 07 Nov 07 Oct 07 Sep 07 Aug 07 Jul 07 Growth: Dec/Nov Nov/Oct Oct/Sep Sep/Aug Aug/Jul Extra-EU27 exports 101.9 106.1 105.5 104.3 105.5 103.8 -4.0% 0.6% 1.2% -1.2% 1.7% Extra-EU27 imports 121.7 122.5 121.8 120.4 120.6 121.2 -0.7% 0.5% 1.2% -0.2% -0.5% Extra-EU27 trade balance -19.7 -16.3 -16.3 -16.1 -15.0 -17.5 Intra-EU27 dispatches 219.2 223.1 224.9 221.2 224.8 223.6 -1.8% -0.8% 1.7% -1.6% 0.5% Contribution of EU27 Member States to extra-EU27 trade - seasonally adjusted databn euro
Total exports Total imports Trade balance Dec 07 Nov 07 Growth Dec 07 Nov 07 Growth Dec 07 Nov 07 EU27 101.9 106.1 -4.0% 121.7 122.5 -0.7% -19.7 -16.3 Belgium 5.3 6.3 -14.7% 7.1 7.2 -1.4% -1.8 -1.0 Bulgaria 0.5 0.5 7.1% 0.8 0.8 -9.1% -0.2 -0.3 Czech Republic 1.1 1.2 -3.2% 1.6 1.5 3.6% -0.4 -0.4 Denmark 1.7 2.0 -12.6% 1.6 1.6 1.3% 0.1 0.4 Germany 28.8 29.4 -2.0% 22.8 22.9 -0.7% 6.0 6.4 Estonia 0.2 0.2 -15.2% 0.2 0.2 -6.2% 0.0 0.0 Ireland 2.3 2.5 -8.6% 1.3 1.9 -32.2% 1.0 0.6 Greece 0.5 0.5 -2.9% 1.9 1.9 1.6% -1.5 -1.4 Spain 4.2 4.6 -7.6% 9.2 8.7 6.1% -5.0 -4.1 France 11.6 11.7 -1.4% 12.2 11.6 5.2% -0.6 0.2 Italy 11.4 12.3 -7.3% 13.8 13.5 2.2% -2.4 -1.2 Cyprus 0.0 0.0 14.0% 0.2 0.1 17.8% -0.1 -0.1 Latvia 0.1 0.1 0.7% 0.2 0.2 -2.6% -0.1 -0.1 Lithuania 0.4 0.4 11.6% 0.5 0.5 13.3% -0.1 -0.1 Luxembourg 0.2 0.2 -28.0% 0.4 0.4 -3.7% -0.3 -0.2 Hungary 1.3 1.4 -1.0% 2.0 1.8 7.6% -0.6 -0.5 Malta 0.1 0.1 5.6% 0.1 0.1 2.9% 0.0 0.0 Netherlands 7.7 7.8 -1.6% 15.7 15.7 0.1% -8.0 -7.9 Austria 2.7 2.8 -2.3% 1.9 2.2 -14.0% 0.8 0.5 Poland 2.0 2.0 2.0% 3.0 3.0 1.8% -1.1 -1.0 Portugal 0.7 0.7 -2.1% 1.2 1.2 -5.2% -0.5 -0.5 Romania 0.7 0.7 -2.3% 1.3 1.3 2.5% -0.6 -0.5 Slovenia 0.6 0.6 -0.2% 0.5 0.5 2.1% 0.1 0.1 Slovakia 0.5 0.5 1.5% 1.0 1.1 -4.8% -0.5 -0.6 Finland 2.2 2.4 -6.5% 2.0 1.8 14.1% 0.2 0.6 Sweden 3.9 4.1 -5.2% 2.6 2.7 -5.0% 1.3 1.4 United Kingdom 11.1 11.3 -1.8% 16.6 18.0 -7.5% -5.6 -6.7 Seasonally adjusted data [ Figures and graphics available in PDF and WORD PROCESSED ] [ Figures and graphics available in PDF and WORD PROCESSED ]
