Euro Area Trade Surplus Widens in December


The first estimate for the euro area trade in goods balance with the rest of the world in December 2012 gave a 11.7 bn euro surplus, compared with +8.0 bn in December 2011. The November 2012 balance was +13.0 bn, compared with +4.9 bn in November 2011. During 2012, euro area trade in goods recorded a surplus of 81.8 bn euro, compared with -15.7 bn in 2011. The EU27 recorded a deficit of 104.6 bn in 2012, compared with -162.7 bn in 2011.

In December 2012 compared with November 2012, seasonally adjusted exports fell by 1.8 percent and imports by 3.0 percent. These data are released by Eurostat, the statistical office of the European Union. The first estimate for the December 2012 extra-EU27 trade in goods balance was a 0.7 bn euro deficit, compared with -0.2 bn in December 2011. The November 2012 balance was -1.9 bn, compared with -9.3 bn in November 2011. In December 2012 compared with November 2012, seasonally adjusted exports decreased by 1.9 percent and imports by 1.6 percent. 

Concerning the total trade of Member States, the largest surplus was observed in Germany (+174.6 bn euro in January-November 2012), followed by the Netherlands (+46.0 bn), Ireland (+39.9 bn) and the Czech Republic (+12.1 bn). The United Kingdom (-152.9 bn) registered the largest deficit, followed by France (-75.2 bn), Spain (-30.0 bn) and Greece (-19.0 bn). 
 
The EU27 trade surplus increased with the USA (+80.2 bn euro in January-November 2012 compared with +64.6 bn in January-November 2011) and Turkey (+25.3 bn compared with +22.9 bn), but fell with Switzerland (+25.8 bn compared with +41.9 bn). The EU27 trade deficit declined with China (-135.3 bn compared with -146.9 bn), Russia (-81.2 bn compared with -83.3 bn) and Japan (-8.2 bn compared with -19.1 bn), but rose with Norway  (-46.7 bn compared with -42.1 bn).

Eurostat | Nuno Fontes | nuno@tradingeconomics.com
2/15/2013 10:09:36 AM