Euro Area Trade Surplus Widens 57% MoM in October


In October of 2013, Euro Area's trade surplus in goods rose to 17.2 billion €, compared with 9.6 bn € in October of 2012 and 10.9 bn € a month earlier. From September to October, exports rose 8.8 percent to 172.2 billion € while imports grew 5.2 percent to 154.9 billion €. Extra-EU28 trade balance was a 4.3 bn € surplus, compared with -10.2 bn a year earlier and a deficit of -0.7 bn € in September.

The EU28 deficit for energy decreased (-287.1 bn euro in January-September 2013 compared with -315.3 bn in January-September 2012), while the surplus for manufactured goods increased (+286.6 bn compared with +254.2 bn). 

EU28 imports from most of its major partners fell in January-September 2013 compared with January-September 2012, except for Turkey (+4 percent) and India (+1 percent). The most notable decreases were recorded for imports from Japan (-15 percent), Brazil (-14 percent), Switzerland (-12 percent) and Norway (-11 percent). The pattern was mixed for EU28 exports, with the largest increases registered for exports to Switzerland (+32 percent) and Turkey (+5 percent) and the most notable falls for exports to India (-5 percent), the USA and Japan (both -3 percent). 

The EU28 trade surplus increased significantly with Switzerland (+61.4 bn euro in January-September 2013 compared with +20.1 bn in January-September 2012) and more moderately with the USA (+68.3 bn compared with +64.7 bn), Turkey (+21.6 bn compared with +20.5 bn) and Brazil (+5.5 bn compared with +0.8 bn). The EU28 trade deficit fell with China (-98.2 bn compared with -110.1 bn), Russia (-65.6 bn compared with -67.8 bn), Norway (-30.1 bn compared with -39.5 bn) and Japan (-1.8 bn compared with -8.3 bn). 

Concerning the total trade of Member States, the largest surplus was observed in Germany (+148.3 bn euro in January-September 2013), followed by the Netherlands (+40.5 bn), Ireland (+28.5 bn), Italy (+19.6 bn), Belgium (+11.6 bn) and the Czech Republic (+10.6 bn). France (-57.5 bn) registered the largest deficit, followed by the United Kingdom (-55.1 bn), Greece (-14.5 bn) and Spain (-11.6 bn).

Euro Area Trade Surplus Widens 57% MoM in October


Eurostat | Joana Taborda | joana.taborda@tradingeconomics.com
12/16/2013 10:37:58 AM