STAT/05/132 20 October 2005 August 2005 Euro-zone external trade deficit 2.6 14.2 deficit for EU25 The first estimate for euro-zone 1 trade with the rest of the world in August 2005 was a 2.6 billion euro deficit, against a 2.5 surplus in August 2004. The July 2005 2 balance was +7.9 bn, compared with +12.9 bn in July 2004. In August 2005 compared with July 2005, exports, seasonally adjusted, increased by 3.4% and imports by 5.1%. The first estimate for August 2005 extra-eu25 3 trade was a 14.2 deficit, compared with -8.3 bn in August 2004. In July 2005 2, the balance was -3.0 bn, against +1.0 bn in July 2004. In August 2005 compared with July 2005, exports, seasonally adjusted, increased by 2.3% and imports by 5.2%. These data are released by Eurostat, the Statistical Office of the European Communities. EU25 January-July 2005 detailed results The energy deficit grew strongly (-113.1 in January-July 2005 compared with -77.4 bn in January-July 2004), while the surplus for machinery and vehicles rose (+58.7 bn compared with +47.5 bn). The surplus in the chemicals sector remained nearly stable (+38.4 bn compared with +37.9 bn). Apart from exports to China and Japan (both -1% in January-July 2005 compared with January-July 2004) and imports from Japan (-4%) which fell, as well as imports from the USA which remained stable, EU25 trade flows with its major partners grew. The most notable increases were for exports to India (+23%), Russia (+22%), South Korea (+13%) and Norway (+11%), and for imports from Russia (+32%), China (+21%), India (+18%) and Norway (+12%). EU25 trade was characterised by an increase in the EU25 surplus with the USA (+47.8 in January-July 2005 compared with +42.9 bn in January-July 2004) and Switzerland (+9.0 bn compared with +7.6 bn). The EU25 trade deficit grew with China (-54.7 bn compared with -40.2 bn), Russia (-27.8 bn compared with -19.2 bn) and Norway (-15.8 bn compared with -14.0 bn), but fell with Japan (-17.2 bn compared with -18.8 bn). Concerning the total trade of Member States, the largest surplus was observed in Germany (+97.8 in January-July 2005), followed by the Netherlands (+21.1 bn), Ireland (+19.8 bn) and Sweden (+10.8 bn). The United Kingdom (-56.7 bn) registered the largest deficit, followed by Spain (-40.5 bn), Greece (-17.0 bn) and France (-15.4 bn).
Euro-zone trade - non seasonally adjusted data Flows Aug 05 Aug 04 Jul 05 Jul 04 Jan-Aug 05 Jan-Aug 04 Extra-eurozone exports 97.9 86.0 14% 104.6 r 101.6 3% r 792.9 749.6 6% Extra-eurozone imports 100.5 83.5 20% 96.7 r 88.6 r 9% r 769.8 693.4 11% Extra-eurozone trade balance -2.6 2.5 7.9 r 12.9 23.1 56.2 Intra-eurozone dispatches 83.8 80.1 5% 99.4 r 99.0 r 0% 806.8 770.3 5% EU25 trade - non seasonally adjusted data Flows Aug 05 Aug 04 Jul 05 Jul 04 Jan-Aug 05 Jan-Aug 04 Extra-EU25 exports 85.7 74.0 16% 91.6 r 86.9 r 5% 680.1 628.4 8% Extra-EU25 imports 100.0 82.4 21% 94.5 r 85.9 r 10% 742.8 667.0 11% Extra-EU25 trade balance -14.2-8.3-3.0 r 1.0-62.6-38.7 Intra-EU25 dispatches 151.2 142.1 6% 168.5 r 166.7 r 1% r 1 377.3 1 311.1 5% r: Revised 1. Euro-zone: Belgium, Germany, Greece, Spain, France, Ireland, Italy, Luxembourg, Netherlands, Austria, Portugal and Finland. 2. The first estimates for July 2005 were +7.2 for the euro-zone and -3.2 bn for the EU25. See News Release 121/2005 issued on 27 September 2005. 3. Data for the 10 new Member States came from Customs declarations up to 30 April 2004. Since 1 May 2004, their intra-eu data stem from the Intrastat system. 4. This News Release is based on data available on 13 October. These are provisional figures based on information provided by Member States. They are subject to frequent revision for up to two years after the month in question. Furthermore, national concepts may differ from the harmonised methodology used by Eurostat, leading to differences between figures in this release and those published nationally, both for raw data and for seasonally adjusted series. 5. Since the introduction of Intrastat for intra-eu trade on 1 January 1993, the value of dispatches has been consistently higher than that of arrivals. In theory, as dispatches are declared FOB and arrivals CIF, the value of arrivals should be slightly higher than that of dispatches. Eurostat uses dispatches as the more reliable measure of total intra-eu trade as, at aggregated levels, total dispatches has better coverage than total arrivals. Due to this divergence in intra-eu trade, and to the difficulties of interpreting figures in absolute terms at the level of individual Member States, trade balances for individual Member States must be interpreted with caution. The same caution applies to the trade balance of the euro-zone, which includes some intra-eu trade. 6. The next News Release including revised data for August 2005 and first estimates for September 2005 will be issued on 21 November 2005. Issued by: Eurostat Press Office Philippe BAUTIER BECH Building L-2920 LUXEMBOURG Tel: +352-4301-33 444 Fax: +352-4301-35 349 eurostat-pressoffice@cec.eu.int For further information on data: Anne BERTHOMIEU Tel: +352-4301-33 616 Karo NUORTILA Tel: +352-4301-34 802 Fax: +352-4301-34 339 estat-etfree@cec.eu.int Eurostat news releases on the Internet: http://europa.eu.int/comm/eurostat/
Euro-zone trade - previous 6 months - non seasonally adjusted data Flows Jun 05 May 05 Apr 05 Mar 05 Feb 05 Jan 05 Extra-eurozone exports 107.8 r 100.5 100.7 102.9 91.1 r 87.3 Extra-eurozone imports 100.5 r 98.0 98.8 r 98.7 87.6 88.8 r Extra-eurozone trade balance 7.2 r 2.5 1.9 r 4.2 3.5-1.4 Intra-eurozone dispatches 109.7 r 102.5 r 105.9 r 111.3 r 99.2 r 95.1 r EU25 trade - previous 6 months - non seasonally adjusted data Flows Jun 05 May 05 Apr 05 Mar 05 Feb 05 Jan 05 Extra-EU25 exports 94.7 r 86.7 86.7 r 87.3 75.8 r 71.7 Extra-EU25 imports 96.6 r 93.8 95.7 93.8 82.7 r 85.6 Extra-EU25 trade balance -1.9 r -7.1-9.1-6.5-6.9 r -13.9 Intra-EU25 dispatches 186.8 r 174.5 r 179.9 r 187.0 r 168.1 r 161.2 r r: Revised Main products - Euro-zone - non seasonally adjusted data Euro-zone exports Euro-zone imports Trade balance Primary products: 74.5 66.8 12% 187.6 149.8 25% -113.0-83.0 Food & drink 40.4 37.6 7% 36.4 35.1 4% 4.0 2.5 Crude materials 14.4 13.2 9% 30.3 27.4 11% -15.8-14.2 Energy 19.8 16.0 23% 120.9 87.4 38% -101.2-71.3 Manufactured goods: 603.3 576.9 5% 471.9 439.2 7% 131.4 137.6 Chemicals 107.6 101.7 6% 67.9 60.7 12% 39.7 41.0 Machinery & vehicles 314.5 303.3 4% 233.3 221.9 5% 81.2 81.3 Other manuf d articles 181.2 171.9 5% 170.6 156.6 9% 10.6 15.3 Other 17.1 19.9-14% 9.8 20.9-53% 7.3-1.0 Total 695.0 663.6 5% 669.2 609.9 10% 25.8 53.7 Main products - EU25 - non seasonally adjusted data EU25 exports EU25 imports Trade balance Primary products: 63.2 57.5 10% 200.0 158.0 27% -136.9-100.5 Food & drink 28.6 27.3 5% 35.0 34.6 1% -6.4-7.3 Crude materials 12.8 11.9 7% 30.1 27.8 9% -17.3-15.8 Energy 21.8 18.3 19% 134.9 95.7 41% -113.1-77.4 Manufactured goods: 512.7 483.8 6% 429.2 408.4 5% 83.5 75.4 Chemicals 93.3 88.9 5% 54.9 51.1 7% 38.4 37.9 Machinery & vehicles 264.8 250.3 6% 206.1 202.8 2% 58.7 47.5 Other manuf d articles 154.6 144.6 7% 168.3 154.5 9% -13.7-10.0 Other 18.5 13.1 42% 13.5 18.3-26% 5.0-5.2 Total 594.4 554.3 7% 642.8 584.7 10% -48.4-30.3
Main trading partners - Euro-zone - non seasonally adjusted data Euro-zone exports to Euro-zone imports from Trade balance United Kingdom 117.3 119.8-2% 84.5 81.3 4% 32.8 38.4 United States 104.2 101.3 3% 68.7 66.0 4% 35.5 35.3 China 23.9 24.1-1% 62.2 49.9 25% -38.3-25.9 Switzerland 40.5 38.4 5% 33.0 30.8 7% 7.5 7.6 Russia 22.8 19.3 18% 40.0 30.5 31% -17.2-11.1 Japan 19.6 19.3 2% 30.4 32.0-5% -10.8-12.7 Sweden 25.5 23.8 7% 23.7 22.6 5% 1.8 1.3 Poland 24.3 22.2 10% 17.5 17.3 2% 6.8 4.9 Czech Republic 19.2 17.6 9% 17.4 16.2 8% 1.8 1.4 Turkey 18.7 18.7 0% 14.1 12.9 10% 4.6 5.9 Main trading partners - EU25 - non seasonally adjusted data EU25 exports to EU25 imports from Trade balance United States 141.0 136.5 3% 93.2 93.6 0% 47.8 42.9 China 28.3 28.4-1% 83.0 68.6 21% -54.7-40.2 Russia 29.8 24.5 22% 57.6 43.8 32% -27.8-19.2 Switzerland 46.7 43.2 8% 37.6 35.6 6% 9.0 7.6 Japan 25.0 25.1-1% 42.2 43.9-4% -17.2-18.8 Norway 19.4 17.5 11% 35.2 31.5 12% -15.8-14.0 Turkey 22.7 22.0 3% 18.8 17.3 9% 3.9 4.8 South Korea 11.6 10.3 13% 18.1 17.1 6% -6.5-6.8 India 12.1 9.8 23% 10.9 9.3 18% 1.1 0.5 Canada 13.2 12.8 3% 9.5 9.5 1% 3.7 3.3 Member States total trade (intra-eu25 + extra-eu25) - non seasonally adjusted data Total exports Total imports Trade balance Belgium 153.5 142.6 8% 146.8 131.4 12% 6.6 11.1 Czech Republic 35.1 30.8 14% 33.7 30.8 9% 1.4 0.0 Denmark 38.3 35.0 9% 34.0 31.0 10% 4.3 4.0 Germany 443.2 425.0 4% 345.5 325.9 6% 97.8 99.1 Estonia 3.3 2.6 27% 4.3 3.8 14% -1.0-1.2 Greece 7.6 7.1 7% 24.5 24.8-1% -17.0-17.8 Spain 87.9 87.2 1% 128.4 119.6 7% -40.5-32.4 France 211.2 211.6 0% 226.6 214.6 6% -15.4-3.0 Ireland 49.9 49.2 1% 30.0 28.1 7% 19.8 21.1 Italy 171.6 162.2 6% 176.0 162.9 8% -4.4-0.7 Cyprus 0.6 0.4 56% 2.7 2.4 13% -2.1-2.0 Latvia 2.3 1.8 29% 3.6 3.1 18% -1.4-1.3 Lithuania 4.9 4.0 24% 6.4 5.5 16% -1.5-1.5 Luxembourg 7.8 7.3 7% 9.3 9.2 2% -1.5-1.9 Hungary 27.5 25.0 10% 29.0 27.6 5% -1.5-2.6 Malta 1.0 1.2-10% 1.6 1.7-5% -0.6-0.5 Netherlands 179.9 161.9 11% 158.8 144.5 10% 21.1 17.4 Austria 58.2 54.7 6% 57.9 54.6 6% 0.4 0.1 Poland 39.5 32.9 20% 44.6 40.5 10% -5.1-7.6 Portugal 17.9 17.5 2% 27.8 26.0 7% -9.8-8.4 Slovenia 8.5 7.4 14% 9.0 8.1 11% -0.5-0.6 Slovakia 13.9 12.5 11% 15.1 13.1 15% -1.2-0.6 Finland 29.3 27.3 7% 26.2 23.1 14% 3.1 4.3 Sweden 59.6 56.3 6% 48.8 44.4 10% 10.8 12.0 United Kingdom 167.9 159.7 5% 224.6 218.9 3% -56.7-59.1
Annex - Seasonally adjusted data Seasonally adjusted series have been calculated using one harmonised methodology. The seasonally adjusted series give a complementary view of the monthly evolution of trade. Seasonally adjusted figures may not match those published by Member States, due to differences in the raw data 4, in the choice of seasonal adjustment model and to the use of series in national currency or in euro. Euro-zone trade seasonally adjusted data Flows Aug 05 Jul 05 Jun 05 May 05 Apr 05 Mar 05 Aug/Jul Jul/Jun Jun/May May/Apr Apr/Mar Extra-eurozone exports 106.5 103.0 101.1 101.3 99.7 97.6 3.4% 1.8% -0.1% 1.6% 2.1% Extra-eurozone imports 107.2 102.0 97.5 98.0 96.8 94.3 5.1% 4.6% -0.6% 1.3% 2.6% Extra-eurozone trade balance -0.7 1.0 3.7 3.2 2.9 3.4 Intra-eurozone dispatches 104.0 103.6 102.9 102.9 102.9 101.6 0.4% 0.7% 0.0% 0.0% 1.2% EU25 trade seasonally adjusted data Flows Aug 05 Jul 05 Jun 05 May 05 Apr 05 Mar 05 Aug/Jul Jul/Jun Jun/May May/Apr Apr/Mar Extra-EU25 exports 91.5 89.4 87.6 87.0 85.7 83.8 2.3% 2.0% 0.7% 1.6% 2.2% Extra-EU25 imports 103.7 98.5 94.2 93.9 92.7 90.6 5.2% 4.6% 0.3% 1.3% 2.3% Extra-EU25 trade balance -12.2-9.1-6.5-6.9-7.0-6.8 Intra-EU25 dispatches 178.3 177.4 176.3 175.1 175.1 172.5 0.5% 0.6% 0.6% 0.0% 1.5% Contribution of EU25 Member States to extra-eu25 trade seasonally adjusted data Total exports Total imports Trade balance Aug 05 Jul 05 Aug 05 Jul 05 Aug 05 Jul 05 EU25 91.5 89.4 2.3% 103.7 98.5 5.2% -12.2-9.1 Belgium 5.1 5.0 2.4% 5.8 5.8-0.8% -0.7-0.8 Czech Republic 0.9 0.8 7.7% 0.9 0.9 2.6% -0.1-0.1 Denmark 1.7 1.8-7.1% 1.5 1.4 2.1% 0.2 0.4 Germany 24.9 23.9 3.8% 20.1 18.2 10.2% 4.8 5.7 Estonia 0.1 0.1 8.2% 0.2 0.2-0.3% -0.1-0.1 Greece 0.6 0.5 10.7% 1.6 1.6 1.4% -1.0-1.0 Spain 3.5 3.6-4.1% 7.6 7.1 6.8% -4.1-3.5 France 12.5 11.5 8.0% 12.6 12.2 3.8% -0.2-0.6 Ireland 2.8 2.7 1.0% 1.5 1.4 1.6% 1.3 1.3 Italy 10.3 10.4-1.3% 11.5 11.0 4.3% -1.2-0.6 Cyprus 0.0 0.0 7.4% 0.1 0.1-15.9% -0.1-0.1 Latvia 0.1 0.1-3.7% 0.1 0.1-4.9% -0.1-0.1 Lithuania 0.3 0.3 11.9% 0.4 0.4 20.2% -0.1-0.1 Luxembourg 0.1 0.1 7.3% 0.3 0.4-13.9% -0.2-0.2 Hungary 0.9 0.9 1.6% 1.5 1.4 4.8% -0.5-0.5 Malta 0.1 0.1 10.4% 0.1 0.1 14.9% 0.0 0.0 Netherlands 5.7 5.6 3.0% 12.5 12.2 2.8% -6.8-6.6 Austria 2.6 2.6 1.8% 1.9 1.9 3.9% 0.7 0.7 Poland 1.3 1.4-7.2% 1.8 1.7 5.6% -0.5-0.3 Portugal 0.6 0.5 18.4% 1.1 0.9 18.6% -0.5-0.5 Slovenia 0.4 0.4 1.7% 0.3 0.3 4.2% 0.1 0.2 Slovakia 0.3 0.3 15.2% 0.5 0.5-0.6% -0.1-0.2 Finland 2.0 1.9 4.3% 1.5 1.3 17.6% 0.5 0.6 Sweden 3.7 3.9-3.7% 2.3 2.3-1.2% 1.5 1.6 United Kingdom 11.0 10.9 1.0% 16.0 15.2 5.4% -5.0-4.3
Seasonally adjusted data 120 Extra-eurozone trade - Seasonally adjusted data 100 80 60 40 20 0-20 01-03 04-03 07-03 10-03 01-04 04-04 07-04 10-04 01-05 04-05 07-05 Balance Imports Exports 120 Extra-EU25 trade - Seasonally adjusted data 100 80 60 40 20 0-20 01-03 04-03 07-03 10-03 01-04 04-04 07-04 10-04 01-05 04-05 07-05 Balance Imports Exports