42/2005-23 March 2005 January 2005 Euro-zone external trade deficit 2.2 14.0 deficit for EU25 The first estimate for euro-zone 1 trade with the rest of the world in January 2005 was a 2.2 billion euro deficit, compared with +1.7 bn in January 2004. The December 2004 2 balance was +5.1 bn, compared with +6.4 bn in December 2003. In January 2005 compared with December 2004, exports, seasonally adjusted, rose by 0.2% and imports by 1.8%. The first estimate for January 2005 extra -EU25 3 trade was a 14.0 deficit, compared with -12.1 bn in January 2004. In December 2004 2, the balance was -1.4 bn, compared with -1.9 bn in December 2003. In January 2005 compared with December 2004, exports, seasonally adjusted, fell by 0.4% and imports by 0.3%. In 2004, euro-zone trade recorded a surplus of 73.2 bn, compared with +69.7 bn in 2003. The EU25 recorded a deficit of 61.3 bn in 2004, compared with -57.8 bn in 2003. These data are released by Eurostat, the Statistical Office of the European Communities. EU25 2004 detailed results The energy deficit grew (-149.8 in 2004 compared with -129.1 bn in 2003), while the surplus for machinery and vehicles rose (+84.9 bn compared with +70.3 bn). The surplus in the chemicals sector also increased (+65.8 bn compared with +62.1 bn). Apart from imports from the USA, which were stable in 2004 compared to 2003, EU25 trade flows with its major partners grew. The most notable increases were for imports from China (+20%), Russia and Turkey (both +19%), and South Korea (+17%), and for exports to Turkey (+29%), Russia (+23%), China and Taiwan (both +17%). EU25 trade was characterised by an increase in the EU25 surplus with the USA (+76.5 in 2004 compared with +69.1 in 2003), Switzerland (+13.5 bn compared with +12.4 bn) and Turkey (+7.1 bn compared with +3.6 bn). The EU25 trade deficit increased with China (-78.7 bn compared with -64.2 bn), Russia (-34.8 bn compared with -30.7 bn ), Norway ( -25.4 bn compared with -23.4 bn) and South Korea (-12.4 bn compared with -9.3 bn), but decreased slightly with Japan (-30.5 bn compared with -31.1 bn). Concerning the total trade of Member States, the largest surplus was observed in Germany (+157.0 in 2004), followed by Ireland (+35.3 bn), the Netherlands (+31.4 bn), Sweden (+18.7 bn) and Belgium (+16.5 bn). The United Kingdom registered the largest deficit (-92.9 bn), followed by Spain (-56.7 bn), Greece (-30.1 bn), Portugal (-15.4 bn), France (-13.1 bn) and Poland (-11.5 bn).
Euro-zone trade - non seasonally adjusted data Flows Jan 05 Jan 04 Dec 04 Dec 03 Jan-Dec 04 Jan-Dec 03 Extra-eurozone exports 87.9 81.6 8% 97.9 89.8 9% 1 147.6 1 058.6 8% Extra-eurozone imports 90.1 79.9 13% 92.8 r 83.4 11% 1 074.4 989.0 9% Extra-eurozone trade balance -2.2 1.7 5.1 r 6.4 73.2 69.7 Intra-eurozone dispatches 93.2 88.5 5% 97.3 r 93.2 4% r 1 181.3 1 109.3 6% EU25 trade - non seasonally adjusted data Flows Jan 05 Jan 04 Dec 04 Dec 03 Jan-Dec 04 Jan-Dec 03 Extra-EU25 exports 71.6 66.2 8% 87.0 r 76.6 14% 967.1 883.1 10% Extra-EU25 imports 85.6 78.3 9% 88.4 r 78.5 13% r 1 028.4 940.9 9% Extra-EU25 trade balance -14.0-12.1-1.4 r -1.9-61.3-57.8 Intra-EU25 dispatches 159.1 149.1 7% 163.7 r 155.4 5% r 2 010.2 1 878.5 7% r: Revised 1. Euro-zone: Belgium, Germany, Greece, Spain, France, Ireland, Italy, Luxembourg, Netherlands, Austria, Portugal and Finland. 2. The first estimates for December 2004 were +5.7 for the euro-zone and -1.2 bn for the EU25. See News Release 24/2005 issued on 22 February 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 15 March 200 5. 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. December and January intra-eu data as well as January extra-eu data for Cyprus are estimated by Eurostat. January intra-eu data for Spain, Ireland and Finland are based on data from national databases. 6. 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 eurozone, which includes some intra-eu trade. 7. The next News Release including revised data for January 2005 and first estimates for February 2005 will be issued on 20 April 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 Nov 04 Oct 04 Sep 04 Aug 04 Jul 04 Jun 04 Extra-eurozone exports 102.0 r 102.1 97.8 85.9 r 101.4 r 100.4 Extra-eurozone imports 99.3 r 96.4 r 95.4 83.4 88.6 r 91.5 Extra-eurozone trade balance 2.7 5.7 2.4 r 2.5 r 12.9 8.9 Intra-eurozone dispatches 108.6 r 105.3 r 104.7 r 79.9 r 98.4 r 103.9 r EU25 trade - previous 6 months - non seasonally adjusted data Flows Nov 04 Oct 04 Sep 04 Aug 04 Jul 04 Jun 04 Extra-EU25 exports 85.0 r 84.9 82.6 r 73.9 r 87.0 r 85.5 Extra-EU25 imports 93.6 r 91.4 90.5 r 82.2 r 85.9 r 87.4 r Extra-EU25 trade balance -8.5 r -6.5-7.9-8.3 r 1.0 r -1.9 r Intra-EU25 dispatches 184.6 r 180.1 r 178.8 r 141.4 r 165.7 r 175.3 r r: Revised Main products - Euro-zone - non seasonally adjusted data Euro-zone exports Euro-zone imports Trade balance Primary products: 117.6 109.7 7% 273.1 246.7 11% -155.5-137.0 Food & drink 67.0 65.5 2% 60.5 59.5 2% 6.5 6.0 Crude materials 22.4 20.2 11% 47.3 43.3 9% -24.9-23.1 Energy 28.2 24.0 18% 165.4 143.9 15% -137.1-119.9 Manufactured goods: 993.2 923.1 8% 763.4 715.3 7% 229.8 207.8 Chemicals 174.0 161.6 8% 105.1 99.3 6% 68.9 62.3 Machinery & vehicles 521.6 484.1 8% 386.3 360.8 7% 135.3 123.3 Other manuf d articles 297.6 277.4 7% 272.0 255.3 7% 25.6 22.1 Other 36.8 25.8 42% 37.9 26.9 41% -1.1-1.1 Total 1 147.6 1 058.6 8% 1 074.4 989.0 9% 73.2 69.7 Main products EU25 - non seasonally adjusted data EU25 exports EU25 imports Trade balance Primary products: 100.9 93.9 7% 287.7 256.0 12% -186.8-162.1 Food & drink 49.0 49.2 0% 58.3 57.1 2% -9.3-7.9 Crude materials 20.3 17.8 14% 48.0 43.0 12% -27.7-25.2 Energy 31.6 26.8 18% 181.4 155.9 16% -149.8-129.1 Manufactured goods: 843.6 770.7 9% 711.0 655.0 9% 132.6 115.7 Chemicals 153.7 142.5 8% 87.9 80.4 9% 65.8 62.1 Machinery & vehicles 436.9 397.7 10% 352.0 327.5 7% 84.9 70.3 Other manuf d articles 253.1 230.4 10% 271.2 247.1 10% -18.1-16.7 Other 22.6 18.5 22% 29.8 30.0-1% -7.2-11.5 Total 967.1 883.1 10% 1 028.4 940.9 9% -61.3-57.8
Main trading partners - Euro-zone - non seasonally adjusted data Euro-zone exports to Euro-zone imports from Trade balance United Kingdom 203.8 194.5 5% 142.0 138.6 2% 61.8 55.8 United States 173.3 166.8 4% 113.4 110.6 3% 59.9 56.3 China 40.6 35.0 16% 92.5 74.5 24% -51.9-39.5 Switzerland 66.6 63.2 5% 53.4 50.5 6% 13.1 12.7 Russia 35.6 29.3 22% 56.2 47.4 19% -20.6-18.1 Japan 33.2 31.3 6% 53.8 52.1 3% -20.6-20.8 Sweden 41.9 38.6 9% 39.4 36.9 7% 2.5 1.7 Poland 38.3 34.0 13% 29.4 26.8 10% 8.9 7.2 Czech Republic 30.8 28.3 9% 27.8 27.0 3% 3.0 1.3 Turkey 32.0 24.8 29% 23.0 19.3 19% 9.1 5.5 Main trading partners - EU25 - non seasonally adjusted data EU25 exports to EU25 imports from Trade balance United States 234.1 226.5 3% 157.6 157.4 0% 76.5 69.1 China 48.0 41.2 17% 126.7 105.4 20% -78.7-64.2 Switzerland 75.0 71.2 5% 61.5 58.8 5% 13.5 12.4 Russia 45.6 37.1 23% 80.4 67.8 19% -34.8-30.7 Japan 43.1 40.9 5% 73.6 72.0 2% -30.5-31.1 Norway 30.6 27.6 11% 56.1 51.0 10% -25.4-23.4 Turkey 38.0 29.4 29% 30.9 25.9 19% 7.1 3.6 South Korea 17.8 16.4 9% 30.2 25.7 17% -12.4-9.3 Canada 21.9 21.5 2% 16.2 15.8 3% 5.6 5.7 Taiwan 12.8 11.0 17% 23.6 22.4 6% -10.8-11.4 Member States total trade (intra-eu25 + extra-eu25) - non seasonally adjusted data Total exports Total imports Trade balance Belgium 245.9 225.9 9% 229.4 207.6 11% 16.5 18.3 Czech Republic 54.2 43.1 26% 54.9 45.7 20% -0.8-2.7 Denmark 61.2 58.8 4% 54.7 50.8 8% 6.5 8.0 Germany 733.4 664.4 10% 576.4 534.5 8% 157.0 129.9 Estonia 4.8 4.0 21% 7.1 5.7 24% -2.3-1.7 Greece 12.2 12.1 1% 42.3 39.7 7% -30.1-27.6 Spain 143.4 138.0 4% 200.1 184.4 8% -56.7-46.4 France 360.0 346.6 4% 373.1 352.6 6% -13.1-6.0 Ireland 83.9 82.0 2% 48.6 47.6 2% 35.3 34.4 Italy 277.0 264.6 5% 277.7 263.0 6% -0.7 1.6 Cyprus : 0.4 : : 3.6 : : -3.2 Latvia 3.2 2.6 24% 5.6 4.6 21% -2.4-2.1 Lithuania 7.5 6.2 21% 9.9 8.5 16% -2.4-2.4 Luxembourg 13.0 11.8 11% 15.9 14.4 11% -2.9-2.6 Hungary 43.9 38.1 15% 48.4 42.3 14% -4.4-4.2 Malta 2.0 2.0 1% 3.0 2.9 3% -0.9-0.9 Netherlands 287.7 261.7 10% 256.3 234.0 10% 31.4 27.7 Austria 94.4 85.9 10% 94.7 88.0 8% -0.3-2.1 Poland 60.2 47.5 27% 71.7 60.4 19% -11.5-12.8 Portugal 28.7 28.1 2% 44.1 41.7 6% -15.4-13.7 Slovenia 12.7 11.3 13% 13.8 12.2 13% -1.1-1.0 Slovakia 22.1 19.3 15% 23.7 19.9 19% -1.5-0.6 Finland 49.3 47.0 5% 40.9 37.6 9% 8.4 9.4 Sweden 98.5 90.3 9% 79.8 73.9 8% 18.7 16.4 United Kingdom 277.3 270.2 3% 370.2 346.5 7% -92.9-76.3 : Data not available
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 Jan 05 Dec 04 Nov 04 Oct 04 Sep 04 Aug 04 Jan/Dec Dec/Nov Nov/Oct Oct/Sep Sep/Aug Extra-eurozone exports 97.8 97.6 98.1 96.2 96.3 96.2 0.2% -0.6% 2.0% -0.1% 0.1% Extra-eurozone imports 94.3 92.6 94.1 93.5 92.4 93.3 1.8% -1.6% 0.6% 1.2% -0.9% Extra-eurozone trade balance 3.5 4.9 4.0 2.7 3.9 2.9 Intra-eurozone dispatches 98.4 99.4 103.2 99.9 100.1 101.0-1.0% -3.7% 3.3% -0.2% -0.9% EU25 trade seasonally adjusted data Flows Jan 05 Dec 04 Nov 04 Oct 04 Sep 04 Aug 04 Jan/Dec Dec/Nov Nov/Oct Oct/Sep Sep/Aug Extra-EU25 exports 82.4 82.7 82.4 80.4 81.2 81.4-0.4% 0.4% 2.5% -1.0% -0.2% Extra-EU25 imports 88.6 88.9 89.8 89.1 88.3 89.0-0.3% -1.0% 0.8% 0.9% -0.8% Extra-EU25 trade balance -6.2-6.2-7.4-8.7-7.1-7.7 Intra-EU25 dispatches 168.6 169.0 174.0 170.7 170.6 170.7-0.3% -2.8% 1.9% 0.1% -0.1% Contribution of EU25 Member States to extra-eu25 trade seasonally adjusted data Total exports Total imports Trade balance Jan 05 Dec 04 Jan 05 Dec 04 Jan 05 Dec 04 EU25* 82.4 82.7-0.4% 88.6 88.9-0.3% -6.2-6.2 Belgium 4.5 4.4 2.9% 6.3 5.4 17.4% -1.8-1.0 Czech Republic 0.7 0.7 3.6% 0.8 0.8 0.4% -0.1-0.1 Denmark 1.4 1.5-2.0% 1.3 1.4-2.2% 0.1 0.1 Germany 23.4 23.2 1.0% 17.9 18.0-0.7% 5.5 5.1 Estonia 0.1 0.1 54.7% 0.1 0.2-35.4% 0.0-0.1 Greece 0.4 0.5-18.7% 1.4 1.4 0.0% -1.0-0.9 Spain 3.2 3.4-3.9% 5.9 6.0-0.1% -2.7-2.6 France 10.3 10.7-4.3% 9.3 9.6-2.8% 0.9 1.1 Ireland 2.8 2.6 5.3% 1.4 1.6-13.0% 1.4 1.0 Italy 9.5 9.6-0.3% 9.9 10.0-1.0% -0.4-0.4 Cyprus : 0.0 : : 0.1 : : -0.1 Latvia 0.1 0.1-3.7% 0.1 0.1 1.7% -0.1-0.1 Lithuania 0.2 0.2-13.0% 0.4 0.3 6.3% -0.2-0.1 Luxembourg 0.1 0.1 15.7% 0.4 0.3 13.2% -0.2-0.2 Hungary 0.9 0.8 13.9% 1.3 1.0 25.2% -0.4-0.2 Malta 0.1 0.1 2.9% 0.1 0.1-30.6% 0.0 0.0 Netherlands 5.1 5.0 3.6% 10.8 10.9-1.1% -5.7-6.0 Austria 2.3 2.3 0.5% 1.3 1.6-15.1% 1.0 0.8 Poland 1.3 1.3-0.7% 1.5 1.5-3.3% -0.2-0.2 Portugal 0.5 0.5-9.7% 0.9 0.9-0.9% -0.4-0.4 Slovenia 0.4 0.4 1.1% 0.3 0.2 7.3% 0.2 0.2 Slovakia 0.2 0.3-4.0% 0.4 0.4 2.7% -0.2-0.2 Finland 2.0 2.1-4.6% 1.1 1.2-6.9% 0.9 0.9 Sweden 3.4 3.3 3.2% 1.9 1.9-3.1% 1.5 1.4 United Kingdom 9.4 9.7-3.6% 13.6 13.8-1.2% -4.2-4.0 : Data not available * Includes Eurostat estimates for Member States not available
Seasonally adjusted data Extra-eurozone trade 100 80 60 40 20 0-20 01-02 04-02 07-02 10-02 01-03 04-03 07-03 10-03 01-04 04-04 07-04 10-04 01-05 Balance Imports Exports Extra-EU25 trade 100 80 60 40 20 0-20 01-02 04-02 07-02 10-02 01-03 04-03 07-03 10-03 01-04 04-04 07-04 10-04 01-05 Balance Imports Exports