Euro Area Trade Surplus Widens in June


In June, the Euro Area trade balance in goods with the rest of the world rose to €17.3 billion, compared with €12.8 bn in June of 2012. Exports fell 3.0 percent on the year but were offset by a steeper fall in imports of 6.0 percent.

European Union imports from most of its major partners fell in January-May 2013 compared with January-May 2012, except for Turkey and India (both +4 percent). The most notable decreases were recorded for imports from Norway and Japan (both -15 percent) and Brazil (-13 percent). As regards exports the pattern was mixed. The largest increase was registered for exports to Switzerland (+33 percent), and the largest fall for exports to India (-4 percent). 

The European Union trade surplus increased with Switzerland (€37.7 bn in January-May 2013 compared with €18.1 bn in January-May 2012), the USA (+37.4 bn compared with +33.0 bn) and Turkey (+12.2 bn compared with +10.5 bn). The EU trade deficit fell with China (-52.3 bn compared with -56.8 bn), Russia (-39.5 bn compared with -43.1 bn), Norway (-16.8 bn compared with -24.8 bn) and Japan (-1.7 bn compared with -5.9 bn). 

Concerning the total trade of Member States, the largest surplus was observed in Germany (+81.0 bn euro in January-May 2013), followed by the Netherlands (+24.3 bn), Ireland (+15.3 bn) and Italy (+8.7 bn). France (-32.9 bn) registered the largest deficit, followed by the United Kingdom (-26.1 bn) and Greece (-8.0 bn). 

Euro Area Trade Surplus Widens in June


Eurostat | Nuno Fontes | nuno@tradingeconomics.com
8/16/2013 10:12:59 AM