Euro Area Trade Surplus Widens in March


The Euro Area trade in goods balance with the rest of the world in March 2013 gave a € 22.9 billion surplus, compared with +6.9 bn in March 2012. The February 2013 balance was +10.1 bn, compared with +1.2 bn in February 2012. In March 2013 compared with February 2013, seasonally adjusted exports rose by 2.8 percent while imports fell by 1.0 percent.

The March 2013 extra-EU27 trade balance was a € 15.8 bn surplus, compared with -8.2 bn in March 2012. In February 2013 the balance was +1.7 bn, compared with -13.0 bn in February 2012. In March 2013 compared with February 2013, seasonally adjusted exports rose by 3.4 percent while imports fell by 1.1 percent. 
 
The EU27 deficit for energy decreased (€-66.2 bn in January-February 2013 compared with -71.7 bn in January-February 2012), while the surplus for manufactured goods increased (+49.9 bn compared with +41.1 bn). EU27 imports from most of its major partners fell in January-February 2013 compared with January-February 2012, except for Turkey (+6 percent) and Russia (+2 percent). 
 
The most notable decreases were recorded for imports from Norway and Japan (both -14 percent) and Brazil (-12 percent). As regards EU27 exports, the pattern was mixed. The largest increases were recorded for exports to Switzerland and Turkey (both +11 percent), and the largest fall with India (-10 percent). The EU27 trade surplus increased with the USA (+13.5 bn euro in January-February 2013 compared with +12.1 bn in January-February 2012), Switzerland (+10.9 bn compared with +7.9 bn) and Turkey (+4.0 bn compared with +3.2 bn). 
 
The EU27 trade deficit declined with China (-25.6 bn compared with -26.6 bn) and Norway (-7.4 bn compared with -10.7 bn), and remained nearly stable with Russia (-17.8 bn compared with -18.2 bn). Concerning the total trade of Member States, the largest surplus was observed in Germany (+30.4 bn euro in January-February 2013), followed by the Netherlands (+9.3 bn) and Ireland (+5.1 bn). The United Kingdom (-17.9 bn) registered the largest deficit, followed by France (-15.3 bn), Spain (-3.8 bn) and Greece (-3.7 bn). 
 

Eurostat | Nuno Fontes | nuno@tradingeconomics.com
5/16/2013 10:12:35 AM