Euro Zone External Trade Surplus Reaches 4.6 bn Euro

But 4.3 bn Euro Deficit for EU27

The first estimate for the euro area1 (EA16) trade balance with the rest of the world in June 2009 gave a 4.6 bn euro surplus, compared with 0.0 bn in June 2008. The May 20092 balance was +2.1 bn, compared with -3.8 bn in May 2008. In June 2009 compared with May 2009, seasonally adjusted exports fell by 0.1%, while imports remained stable.

The first estimate for the June 2009 extra-EU271 trade balance was -4.3 bn euro, compared with -19.3 bn in June 2008. In May 20092 the balance was -7.2 bn, compared with -20.7 bn in May 2008. In June 2009 compared with May 2009, seasonally adjusted exports fell by 0.3% and imports by 1.4%.

These data3 are released by Eurostat, the Statistical Office of the European Communities.
EU27 January-May 2009 detailed results

The EU27 energy deficit decreased (-92.9 bn euro in January-May 2009 compared with -147.9 bn in January-May 2008), while the surplus fell for machinery and vehicles (+36.3 bn compared with +59.8 bn) and chemicals (+31.1 bn compared with +32.7 bn).

EU27 trade flows with all of its major partners fell. The largest decreases were recorded for exports to Russia (-39% in January-May 2009 compared with January-May 2008), Turkey (-33%), South Korea (-23%) and Norway (-22%), and for imports from Russia (-43%), Japan and Brazil (both -29%), Norway and Turkey (both -28%).

The EU27 trade surplus fell with the USA (+11.5 bn euro in January-May 2009 compared with +27.3 bn in January-May 2008) and Switzerland (+4.8 bn compared with +8.0 bn). The EU27 trade deficit decreased with China (-55.8 bn compared with -60.9 bn), Russia (-16.4 bn compared with -31.1 bn), Norway (-13.3 bn compared with -19.9 bn) and Japan (-9.1 bn compared with -15.0 bn).

Concerning the total trade of Member States, the largest surplus was observed in Germany (+46.3 bn euro in January-May 2009), followed by Ireland (+15.6 bn) and the Netherlands (+13.8 bn). The United Kingdom (-38.0 bn) registered the largest deficit, followed by France (-24.4 bn), Spain (-20.7 bn), Greece (-11.6 bn) and Portugal (-6.8 bn).

Source: Eurostat