Euro Area Trade Surplus Increases in November on Falling Imports


In November of 2013, Euro Area trade surplus widened to € 17.1 billion, up from a revised € 16.8 billion in the previous month and € 12.5 billion a year earlier. Non-seasonally adjusted exports fell by 2.2 percent on the year to € 160.8 billion, while imports shrank by 5.5 percent to € 143.7 billion. Extra-EU 28 trade balance was a € 3.4 billion surplus.

The EU 28 deficit for energy decreased (-321.3 bn euro in January-October 2013 compared with -351.6 bn in January-October 2012), while the surplus for manufactured goods increased (+322.1 bn compared with +287.0 bn). 

EU 28 imports from most of its major partners fell in January-October 2013 compared with January-October 2012, except for Turkey (+3 percent) and India (0 percent). The most notable decreases were recorded for imports from Japan and Brazil (both -14 percent), Switzerland (-13 percent) and Norway (-12 percent). The pattern was mixed for EU 28 exports, with the largest increases registered for exports to Switzerland (+31 percent), South Korea and Turkey (both +4 percent) and the most notable falls for exports to India (-6 percent), the USA and Japan (both -3 percent). 

The EU 28 trade surplus increased significantly with Switzerland (+66.5 bn euro in January-October 2013 compared with +20.7 bn in January-October 2012) and more moderately with the USA (+77.1 bn compared with +72.9 bn), Turkey (+23.7 bn compared with +22.6 bn) and Brazil (+6.4 bn compared with +1.1 bn). The EU 28 trade deficit fell with China (-110.6 bn compared with -124.1 bn), Russia (-72.1 bn compared with -76.1 bn), Norway (-32.8 bn compared with -43.5 bn) and Japan (-2.1 bn compared with -8.2 bn). 

Concerning the total trade of Member States, the largest surplus was observed in Germany (+166.3 bn euro in January-October 2013), followed by the Netherlands (+45.5 bn), Ireland (+31.3 bn), Italy (+23.7 bn), Belgium and the Czech Republic (both +11.9 bn). The United Kingdom (-66.5 bn) registered the largest deficit, followed by France (-63.5 bn), Greece (-16.2 bn) and Spain (-12.8 bn). 


Euro Area Trade Surplus Increases in November on Falling Imports


Eurostat | Joana Taborda | joana.taborda@tradingeconomics.com
1/15/2014 10:28:40 AM