Euro area Trade Balance is Expected to be 7.4 bn


The first estimate for the euro area (EA13) trade balance with the rest of the world in March 2007 gave a 7.4 bn euro surplus, compared with +0.6 bn in March 2006.

The first estimate for the euro area (EA13) trade balance with the rest of the world in March 2007 gave a 7.4 bn euro surplus, compared with +0.6 bn in March 2006. The February 2007 balance was -1.3 bn, compared with -3.4 bn in February 2006. In March 2007 compared with February 2007, seasonally adjusted exports rose by 1.2%, while imports fell by 2.6%.

The first estimate for March 2007 extra-EU271 trade was a deficit of 11.1 bn euro, compared with -13.5 bn in March 2006. In February 20072, the balance was -17.6 bn, compared with -16.2 bn in February 2006. In March 2007 compared with February 2007, seasonally adjusted exports rose by 1.1%, while imports fell by 2.2%.

The energy deficit decreased (-42.4 bn euro in January-February 2007 compared with -48.5 bn in January-February 2006), while the surpluses rose in the chemicals sector (+11.8 bn compared with +10.8 bn) and for machinery and vehicles (+13.0 bn compared with +11.0 bn).

EU27 trade with most of its major partners grew. The biggest increases were for exports to Russia (+26% in January-February 2007 compared with January-February 2006), South Korea (+18%), India (+14%) and China (+13%), and for imports from China (+24%), Turkey (+21%), India (+18%) and Canada (+17%). The EU27 trade surplus with the USA decreased (+10.7 bn euro in January-February 2007 compared with +13.1 bn in January-February 2006), but increased slightly with Switzerland (+2.4 bn compared with +2.3 bn). The EU27 trade deficit grew with China (-27.1 bn compared with -21.1 bn) and Japan (-5.4 bn compared with -4.8 bn), but decreased with Russia (-10.5 bn compared with -13.8 bn), Norway (-5.8 bn compared with -7.8 bn) and South Korea (-2.3 bn compared to -2.6 bn).


EUROSTAT
6/6/2007 5:46:31 PM