Euro Area Trade Surplus Widens as Exports Rise


In July, the Euro Area trade balance in goods with the rest of the world rose to €18.2 billion, compared with €13.9 bn in July of 2012. Exports were up 3.0 percent on the year while imports were broadly unchanged.

The European Union deficit for energy decreased (€-188.4 bn in January-June 2013 compared with €-211.9 bn in the same period of 2012), while the surplus for manufactured goods increased (€195.7 bn compared with €164.3 bn). 

Purchases from most of EU's major partners fell during the same period, except for Turkey and India (both +3 percent). The most notable decreases were recorded for imports from Japan (-16 percent), Brazil (-14 percent) and Norway (-13 percent). As regards exports the pattern was mixed. The largest increases were registered for sales to Switzerland (+33 percent) and Turkey (+7 percent), while falls were recorded for shipments to the USA, China, Japan and India (all -2 percent). 

The trade surplus increased significantly with Switzerland (€44.2 bn compared with €21.2 bn) and rose more moderately with the USA (€43.9 bn compared with €41.1 bn), Turkey (€14.9 bn compared with €13.0 bn) and Brazil (€3.6 bn compared with €0.3 bn). The EU trade deficit fell with China (€-62.2 bn compared with €-68.5 bn), Russia (€-44.9 bn compared with €-49.1 bn) and  Norway (€-20.1 bn compared with €-28.3 bn).

Concerning the total trade of Member States, the largest surplus was observed in Germany (€98.0 bn), followed by the Netherlands (€28.0 bn), Ireland (€18.6 bn) and Italy (€12.3 bn). France (€-38.0 bn) registered the largest deficit, followed by the United Kingdom (€-31.7 bn) and Greece (€-9.7 bn). 

Euro Area Trade Surplus Widens as Exports Rise


Eurostat | Nuno Fontes | nuno@tradingeconomics.com
9/17/2013 10:24:33 AM