Euro Area Trade Surplus Widens in October


The first estimate for euro area (EA17) trade with the rest of the world in October 2011 gave a 1.1 bn euro surplus, compared with +3.1 bn euro in October 2010. The September 2011 balance was +2.7 bn, compared with +0.3 bn in September 2010.

The first estimate for the October 2011 extra-EU27 trade balance was a 11.0 bn euro deficit, compared with -9.6 bn in October 2010. In September 2011 the balance was -10.6 bn, compared with -13.9 bn in September 2010.

EU27 detailed results for January to September 2011

The EU27 deficit for energy increased significantly (-280.9 bn euro in January-September 2011 compared with -221.6 bn in January-September 2010), while the surplus for manufactured goods rose notably (+178.5 bn compared with +121.0 bn).

EU27 trade with all its major partners grew in January-September 2011 compared with January-September 2010, except for imports from South Korea (-9%). The highest increases were recorded for exports to Russia (+29%), Turkey (+26%), China (+21%) and India (+20%), and for imports from Russia (+26%), Brazil, India and Norway (all +22%).

The EU27 trade surplus increased with the USA (+55.1 bn euro in January-September 2011 compared with +52.4 bn in January-September 2010), Switzerland (+21.2 bn compared with +14.2 bn) and Turkey (+19.5 bn compared with +12.9 bn). The EU27 trade deficit fell with China (-118.0 bn compared with -122.6 bn), Japan (-15.1 bn compared with -16.7 bn) and South Korea (-3.3 bn compared with -9.2 bn), but increased with Russia (-67.9 bn compared with -56.1 bn) and Norway (-35.6 bn compared with -26.9 bn).

Concerning the total trade of Member States, the largest surplus was observed in Germany (+117.9 bn euro in January-September 2011), followed by the Netherlands (+32.8 bn) and Ireland (+32.4 bn). The United Kingdom (-88.1 bn) registered the largest deficit, followed by France (-65.8 bn), Spain (-36.7 bn), Italy (-23.1 bn), Greece (-13.2 bn), Portugal (-12.4 bn) and Poland (-10.8 bn).


TradingEconomics.com, Eurostat
12/16/2011 1:53:03 PM