Euro Area Posts Trade Surplus in February


The first estimate for the Euro Area trade in goods balance with the rest of the world in February 2013 gave a 10.4 billion euro surplus, compared with +1.3 bn in February 2012. The January 2013 balance was -4.7 bn, compared with -9.2 bn in January 2012. In February 2013 compared with January 2013, seasonally adjusted exports rose by 0.1 percent while imports fell by 2.1 percent.

The first estimate for the February 2013 extra-EU27 trade balance was a 1.8 bn euro surplus, compared with -13.1 bn in February 2012. In January 2013 the balance was -16.8 bn, compared with -25.0 bn in January 2012. In February 2013 compared with January 2013, seasonally adjusted exports fell by 0.1% and imports by 2.3 percent. 

The EU27 deficit for energy decreased (-34.7 bn euro in January 2013 compared with -36.2 bn in January 2012), while the surplus for manufactured goods increased (+18.1 bn compared with +14.4 bn). 
 
EU27 exports to most of its major partners grew in January 2013 compared with January 2012, except for India (-10 percent). The most notable increases were recorded for exports to Turkey (+13 percent), Russia (+11 percent) and Norway (+10 percent). As regards EU27 imports, the pattern was mixed. The largest increases were recorded for imports from Turkey (+11 percent) and Russia (+7 percent), and the largest falls with Norway and Japan (both -12 percent). 
 
The EU27 trade surplus increased with the USA (+5.9 bn euro in January 2013 compared with +5.1 bn in January 2012) and Switzerland (+5.6 bn compared with +4.7 bn). The EU27 trade deficit declined with China (-14.5 bn compared with -14.8 bn), Norway (-3.8 bn compared with -5.3 bn) and Japan (-0.4 bn compared with -1.3 bn), but rose with Russia (-10.4 bn compared with -9.9 bn). 
 
Concerning the total trade of Member States, the largest surplus was observed in Germany (+13.6 bn euro in January 2013), followed by the Netherlands (+4.8 bn) and Ireland (+2.3 bn). The United Kingdom (-8.9 bn) registered the largest deficit, followed by France (-8.2 bn) and Spain (-3.2 bn).

Eurostat | Nuno Fontes | nuno@tradingeconomics.com
4/15/2013 10:06:05 AM