Euro Area Trade Surplus Widens


The first estimate for the euro area (EA16) trade balance with the rest of the world in March 2010 gave a 4.5 billion euro surplus, compared with +1.6 bn in March 2009.

The February 2010 balance was +2.4 bn, compared with -1.2 bn in February 2009. In March 2010 compared with February 2010, seasonally adjusted exports rose by 7.5% and imports by 10.3%.

The first estimate for the March 2010 extra-EU27 trade balance was a 7.1 bn euro deficit, compared with -9.2 bn in March 2009. In February 20102 the balance was -6.5 bn, compared with -10.8 bn in February 2009. In March 2010 compared with February 2010, seasonally adjusted exports rose by 7.0% and imports by 10.4%.

The EU27 deficit rose for energy (-43.1 bn euro in January-February 2010 compared with -38.9 bn in January-February 2009), while the surplus for manufactured goods has increased (+18.0 bn compared with +7.9 bn).

EU27 exports to its major partners grew in January-February 2010 compared with January-February 2009, except for the USA and Russia (both -1%). The most notable increases were recorded for exports to China (+47%), Turkey (+37%) and India (+36%). For imports, the largest increases were recorded with Russia (+30%), India (+14%) and Turkey (+12%), and the largest falls with the USA (-14%), Japan and Brazil (both -5%).

The EU27 trade surplus increased with the USA (+7.9 bn euro in January-February 2010 compared with +4.4 bn in January-February 2009). The EU27 trade deficit decreased with China (-22.6 bn compared with -28.0 bn) and Japan (-2.7 bn compared with -3.7 bn), but increased with Russia (-12.6 bn compared with -7.3 bn).

Concerning the total trade of Member States, the largest surplus was observed in Germany (+20.6 bn euro in January-February 2010), followed by the Netherlands (+6.7 bn) and Ireland (+6.2 bn). The United Kingdom (-16.3 bn) registered the largest deficit, followed by France (-9.0 bn), Spain (-8.0 bn), Italy (-5.7 bn) and Greece (-4.3 bn).


TradingEconomics.com, Eurostat
5/18/2010 10:27:25 AM