Euro area external trade surplus €2.9 bn

The first estimate for euro area (EA17) trade with the rest of the world in September 2011 gave a €2.9 bn surplus, compared with €500 million in September 2010. The August 2011 balance was -€4.4 bn, compared with

-€6.2 bn in August 2010. In September 2011 compared with August 2011, seasonally adjusted exports fell by 1.0% and imports by 3.2%.

The first estimate for the September 2011 extra-EU27 trade balance was a €10.5 bn deficit, compared with
-€13.9 bn in September 2010. In August 2011 the balance was -€17.8 bn, compared with -€19.3 bn in August 2010. In September 2011 compared with August 2011, seasonally adjusted exports fell by 0.7% and imports by 3.4%.

These data are released by Eurostat, the statistical office of the European Union.

EU27 detailed results for January to August 2011

The EU27 deficit for energy increased significantly (-€249.4 bn in January-August 2011 compared with -€196.5 bn in January-August 2010), while the surplus for manufactured goods rose notably ( €155.2 bn compared with €108.3 bn).

EU27 trade with all its major partners grew in January-August 2011 compared with January-August 2010, except for imports from South Korea (-9%). The highest increases were recorded for exports to Russia ( 30%), Turkey ( 29%), China and India (both 22%) and South Korea ( 18%), and for imports from Russia ( 26%), Brazil and India (both 23%), Norway ( 20%) and Turkey ( 18%).

The EU27 trade surplus increased with the USA (€48.5 bn euro in January-August 2011 compared with €44.8 bn in January-August 2010), Switzerland (€17.2 bn compared with €12.2 bn) and Turkey (€16.8 bn compared with €10.7 bn). The EU27 trade deficit increased with Russia (-62.2 bn compared with -€50.7 bn) and Norway (-€31.5 bn compared with -€24.8 bn), remained nearly stable with China (-103.0 bn compared with -€104.2 bn) and Japan (-€13.7 bn compared with -€14.8 bn), but fell with South Korea (-€2.8 bn compared with -€8.2 bn).

Concerning the total trade of Member States, the largest surplus was observed in Germany (€100.6 bn euro in January-August 2011), followed by the Netherlands (€28.8 bn) and Ireland (€28.2 bn). The United Kingdom
(-€76.3 bn) registered the largest deficit, followed by France (-€58 bn), Spain (-€31.5 bn), Italy (-€23.4 bn), Greece