Euro area external trade deficit 1.7 bn euro

17 Apr '07

2 min read

The first estimate for the euro area (EA13) trade balance with the rest of the world in February 2007 gave a 1.7 bn euro deficit compared with -3.3 bn in February 2006. The January 2007 balance was -7.0 bn, compared with -9.9 bn in January 2006. In February 2007 compared with January 2007, exports, seasonally adjusted, rose by 0.6% and imports by 2.3%.

The first estimate for February 2007 extra-EU27 trade was a deficit of 17.6 bn euro, compared with -16.1 bn in February 2006. In January 2007, the balance was -26.0 bn, compared with -26.2 bn in January 2006. In February 2007 compared with January 2007, exports, seasonally adjusted, fell by 0.4% while imports rose by 1.2%.

These data are released by Eurostat, the Statistical Office of the European Communities.

EU27 January 2007 detailed results:
The energy deficit decreased (-21.9 bn euro in January 2007 compared with -24.6 bn in January 2006), while the surpluses rose in the chemicals sector (+5.6 bn compared with +5.4 bn) and for machinery and vehicles (+4.4 bn compared with +3.2 bn).

EU27 exports to its major partners grew. The most notable increases were for exports to Russia (+26% in January 2007 compared with January 2006), India (+25%), Turkey (+17%) and South Korea (+16%). Imports from Brazil (+26% in January 2007 compared with January 2006), India (+25%), China (+23%) and Turkey (+18%) grew most strongly, while imports from Norway (-11%), South Korea (-5%) and Russia (-2%) fell.

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