Euro area international trade in goods deficit €3.9 billion

The first estimate for the euro area (EA17) trade in goods balance with the rest of the world in January 2013 gave a €3.9 billion deficit, compared with -9.1 billion in January 2012. The December 2012 balance was €10.8 billion, compared with €8 billion in December 2011. In January 2013 compared with December 2012, seasonally adjusted exports rose by 2.0% and imports by 3.1%. These data are released by Eurostat, the statistical office of the European Union.

The first estimate for the January 2013 extra-EU27 trade balance was a €16.5 billion euro deficit, compared with -€24.9 billion in January 2012. In December 2012 the balance was -€1.1 billion, compared with -€0.2 billion in December 2011. In January 2013 compared with December 2012, seasonally adjusted exports rose by 2.9% and imports by 1.3%.

The EU27 deficit for energy increased significantly (-€422.5 billion euro in 2012 compared with -€388.2 billion in 2011), as did the surplus for manufactured goods (€365.2 billion compared with €260.3 billion).

EU27 exports to most of its major partners grew in 2012 compared with 2011, except for India (-5%) and Switzerland (-4%). The most notable increases were recorded for exports to South Korea (+16%), Russia (+14%) and Japan (+13%). As regards EU27 imports, the pattern was mixed. The largest increases were recorded for imports from Switzerland (+12%), the USA, Russia and Norway (all +7%), and the largest falls with Japan (-8%), India (-6%) and Brazil (-5%).

The EU27 trade surplus increased with the USA (€85.9 billion euro in 2012 compared with €72.2 billion in 2011) and Turkey (€27.3 billion compared with €24.9 billion), but fell with Switzerland (+€28.9 billion compared with €46.4 billion). The EU27 trade deficit declined with China (-€145.9 billion compared with -€157.4 billion) and Japan (-8.3 billion compared with -20.2 billion), remained nearly stable with Russia (€90.1 billion compared with -€90.8 billion), and rose with Norway (-€50.7 billion compared with -€47.1 billion).

Concerning the total trade of Member States, the largest surplus was observed in Germany (€186.7 billion euro in 2012), followed by the Netherlands (€50.5 billion), Ireland (€42.3 billion), the Czech Republic (€12.3 billion) and Italy (€11.1 billion). The United Kingdom (€164.3 billion) registered the largest deficit, followed by France (€81.5 billion), Spain (-€31.8 billion), Greece (-€20.0 billion) and Portugal (-€10.7 billion).