STAT/09/40 23 March 2009 January 2009 Euro area external trade deficit 10.5 26.3 deficit for EU27 The first estimate for the euro area 1 (EA16) trade balance with the rest of the world in January 2009 gave a 10.5 deficit, compared with -11.1 bn in January 2008. The December 2008 2 balance was -1.7 bn, compared with -4.5 bn in December 2007. In January 2009 compared with December 2008, seasonally adjusted exports fell by 10.7% and imports by 7.3%. The first estimate for the January 2009 extra-eu27 1 trade balance was a deficit of 26.3, compared with -30.3 bn in January 2008. In December 2008 2, the balance was -11.0 bn, compared with -17.7 bn in December 2007. In January 2009 compared with December 2008, seasonally adjusted exports fell by 16.7% and imports by 8.1%. These data 3 are released by Eurostat, the Statistical Office of the European Communities. EU27 2008 detailed results The EU27 energy deficit increased (-363.3 in 2008 compared with -271.6 bn in 2007), while the surplus for machinery and vehicles rose (+155.2 bn compared with +124.9 bn). EU27 trade with most of its major partners grew, with the exception of exports to the USA (-5% in 2008 compared with 2007) and Japan (-3%), and imports from Japan and South Korea (both -5%) and Turkey (-2%). The largest increases were recorded for exports to Brazil (+24%) and Russia (+18%), and for imports from Russia and Norway (both +20%). The EU27 trade surplus fell with the USA (+63.1 bn in 2008 compared with +79.8 bn in 2007), while it increased with Switzerland (+17.6 bn compared with +16.0 bn) and Turkey (+8.4 bn compared with +5.7 bn). The EU27 trade deficit grew with China (-169.2 bn compared with -160.7 bn), Russia (-68.1 bn compared with -55.1 bn) and Norway (-48.3 bn compared with -33.1 bn), but decreased with Japan (-32.4 bn compared with -34.6 bn), South Korea (-13.7 bn compared with -16.6 bn) and Brazil (-9.2 bn compared with -11.5 bn) Concerning the total trade of Member States, the largest surplus was observed in Germany (+175.5 in 2008), followed by the Netherlands (+40.5 bn) and Ireland (+28.0 bn). The United Kingdom (-118.0 bn) registered the largest deficit, followed by Spain (-90.5 bn), France (-67.9 bn), Greece (-35.7 bn), Poland (-24.6 bn), Portugal (-23.2 bn) and Romania (-22.7 bn).
EA16 trade - non seasonally adjusted data Flows Jan 08 Jan 09 Growth Dec 07 Dec 08 Growth Jan-Dec 07 Jan-Dec 08 Growth Extra-EA16 exports 124.7 94.7-24% 116.6 r 112.2-4% 1 500.7 1 559.4 4% Extra-EA16 imports 135.8 105.2-23% 121.1 r 113.9-6% 1 489.2 1 598.3 7% Extra-EA16 trade balance -11.1-10.5-4.5 r -1.7 11.6-38.9 Intra-EA16 dispatches 4 133.2 107.5-19% 114.9 r 102.8-10% 1 539.2 1 568.0 2% EU27 trade - non seasonally adjusted data Flows Jan 08 Jan 09 Growth Dec 07 Dec 08 Growth Jan-Dec 07 Jan-Dec 08 Growth Extra-EU27 exports 100.9 75.9-25% 99.2 99.2 r 0% 1 241.6 r 1 308.6 r 5% Extra-EU27 imports 131.2 102.2-22% 116.9 110.2 r -6% 1 434.0 r 1 550.7 r 8% Extra-EU27 trade balance -30.3-26.3-17.7-11.0 r -192.5 r -242.1 r Intra-EU27 dispatches 4 228.6 178.3-22% 197.8 171.7 r -13% r 2 647.8 r 2 701.7 r 2% r: revised 1. The euro area (EA15) consisted of 15 Member States up to 31 December 2008: Belgium, Germany, Ireland, Greece, Spain, France, Italy, Cyprus, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia and Finland. From 1 January 2009 the euro area (EA16) also includes Slovakia. The EU27 includes Belgium (BE), Bulgaria (BG), the Czech Republic (CZ), Denmark (DK), Germany (DE), Estonia (EE), Ireland (IE), Greece (EL), Spain (ES), France (FR), Italy (IT), Cyprus (CY), Latvia (LV), Lithuania (LT), Luxembourg (LU), Hungary (HU), Malta (MT), the Netherlands (NL), Austria (AT), Poland (PL), Portugal (PT), Romania (RO), Slovenia (SI), Slovakia (SK), Finland (FI), Sweden (SE) and the United Kingdom (UK). As part of Eurostat's guidelines for the dissemination of data when the EU or euro area is enlarged, the aggregate data series commented on refer to the official composition of the euro area in the most recent month for which data are available. Thus News Releases with data for months up to December 2008 commented on EA15 series, while Releases with data for January 2009 onwards comment on EA16 series. 2. The first estimates for December 2008 were -0.7 for the EA15 and -10.4 for the EU27. See News Release 21/2009 issued on 17 February 2009. 3. This News Release is based on data available on 17 March 2009. 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. The next News Release including revised data for January 2009 and first estimates for February 2009 will be issued on 17 April 2009. 4. Since the introduction of Intrastat for intra-eu trade on 1 February 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 area, which includes some intra-eu trade. Issued by: Eurostat Press Office Tim ALLEN Tel: +352-4301-33 444 mailto:eurostat-pressoffice@ec.europa.eu Eurostat news releases on the Internet: http://ec.europa.eu/eurostat For further information on data: Gilberto GAMBINI Tel: +352-4301-35 806 Karo NUORTILA Tel: +352-4301-34 802 mailto:estat-etfree@ec.europa.eu Selected Principal European Economic Indicators: http://ec.europa.eu/eurostat/euroindicators
EA16 trade - previous 6 months - non seasonally adjusted data Flows Jun 08 Jul 08 Aug 08 Sep 08 Oct 08 Nov 08 Extra-EA16 exports 136.5 r 142.7 116.7 r 137.6 r 140.8 r 120.3 Extra-EA16 imports 136.4 145.8 126.3 r 142.6 r 141.2 r 127.0 Extra-EA16 trade balance 0.0-3.1-9.6 r -5.0-0.4 r -6.7 Intra-EA16 dispatches 138.7 137.8 r 107.5 r 140.2 r 141.1 r 119.6 EU27 trade - previous 6 months - non seasonally adjusted data Flows Jun 08 Jul 08 Aug 08 Sep 08 Oct 08 Nov 08 Extra-EU27 exports 114.1 r 122.1 r 99.4 r 115.1 r 119.3 r 100.2 r Extra-EU27 imports 133.3 144.1 126.5 138.4 r 136.9 r 124.2 Extra-EU27 trade balance -19.3-22.0 r -27.1 r -23.3 r -17.6 r -24.0 r Intra-EU27 dispatches 239.8 r 236.5 r 192.4 242.8 r 241.6 r 206.2 r EA15 trade - previous 6 months - non seasonally adjusted data Flows Jun 08 Jul 08 Aug 08 Sep 08 Oct 08 Nov 08 Extra-EA15 exports 136.1 r 142.3 116.1 r 137.2 r 140.3 r 119.8 r Extra-EA15 imports 135.6 r 144.8 125.4 141.7 r 140.3 r 126.0 Extra-EA15 trade balance 0.5-2.5-9.3 r -4.5 0.0 r -6.2 r Intra-EA15 dispatches 134.8 134.0 104.3 136.2 r 136.9 r 116.2 r r: revised Main products - EA16 - non seasonally adjusted data EA16 exports EA16 imports Trade balance Primary products: 186.0 214.3 15% 451.2 549.7 22% -265.2-335.4 Food & drink 91.6 100.0 9% 83.1 88.9 7% 8.5 11.1 Crude materials 32.7 34.6 6% 71.0 75.5 6% -38.3-40.9 Energy 61.7 79.6 29% 297.0 385.3 30% -235.3-305.7 Manufactured goods: 1 279.3 1 308.5 2% 1 017.8 1 023.6 1% 261.5 284.8 Chemicals 231.3 243.8 5% 144.8 153.7 6% 86.5 90.2 Machinery & vehicles 661.5 674.5 2% 480.4 482.0 0% 181.1 192.5 Other manuf d articles 386.5 390.1 1% 392.6 388.0-1% -6.1 2.1 Other 35.4 36.7 4% 20.2 24.9 23% 15.2 11.7 Total 1 500.7 1 559.4 4% 1 489.2 1 598.3 7% 11.6-38.9 Main products EU27 - non seasonally adjusted data EU27 exports EU27 imports Trade balance Primary products: 155.8 181.4 16% 481.2 599.6 25% -325.4-418.2 Food & drink 62.0 68.3 10% 75.6 80.1 6% -13.6-11.7 Crude materials 30.3 32.4 7% 70.5 75.6 7% -40.2-43.2 Energy 63.5 80.7 27% 335.2 444.0 32% -271.6-363.3 Manufactured goods: 1 051.1 1 090.7 4% 921.2 914.9-1% 129.9 175.8 Chemicals 197.7 205.2 4% 120.6 126.8 5% 77.1 78.4 Machinery & vehicles 543.4 569.0 5% 418.5 413.8-1% 124.9 155.2 Other manuf d articles 310.0 316.5 2% 382.1 374.3-2% -72.1-57.7 Other 34.6 36.5 5% 31.6 36.2 15% 3.0 0.3 Total 1 241.6 1 308.6 5% 1 434.0 1 550.7 8% -192.5-242.1
Main products EA15 - non seasonally adjusted data EA15 exports EA15 imports Trade balance Primary products: 184.2 212.3 15% 445.8 542.6 22% -261.6-330.3 Food & drink 91.1 99.6 9% 82.0 87.5 7% 9.2 12.1 Crude materials 32.5 34.3 6% 70.6 74.9 6% -38.1-40.6 Energy 60.6 78.4 29% 293.2 380.2 30% -232.7-301.8 Manufactured goods: 1 278.6 1 305.4 2% 1 016.6 1 020.1 0% 262.0 285.3 Chemicals 231.7 244.3 5% 143.7 152.3 6% 88.1 92.1 Machinery & vehicles 661.6 672.8 2% 481.0 481.4 0% 180.6 191.4 Other manuf d articles 385.2 388.3 1% 391.9 386.4-1% -6.7 1.9 Other 35.6 36.7 3% 20.3 24.9 23% 15.3 11.7 Total 1 498.4 1 554.4 4% 1 482.7 1 587.6 7% 15.8-33.2 Main trading partners - EA16 - non seasonally adjusted data EA16 exports to EA16 imports from Trade balance United Kingdom 230.4 222.0-4% 168.7 165.0-2% 61.7 57.0 United States 195.5 186.8-4% 131.5 137.1 4% 64.0 49.8 China 60.4 65.6 9% 172.7 185.0 7% -112.2-119.5 Russia 68.1 78.5 15% 101.9 117.5 15% -33.9-39.0 Switzerland 82.3 86.4 5% 67.2 69.9 4% 15.1 16.5 Poland 74.9 83.8 12% 51.2 57.9 13% 23.6 25.9 Czech Republic 54.6 58.1 6% 54.4 60.9 12% 0.1-2.8 Sweden 55.7 54.4-2% 52.2 52.2 0% 3.5 2.2 Japan 34.3 33.7-2% 59.0 57.0-3% -24.7-23.3 Hungary 37.8 39.4 4% 36.7 38.0 4% 1.1 1.4 Main trading partners EU27 - non seasonally adjusted data EU27 exports to EU27 imports from Trade balance United States 261.4 249.4-5% 181.6 186.3 3% 79.8 63.1 China 71.9 78.4 9% 232.6 247.6 6% -160.7-169.2 Russia 89.1 105.2 18% 144.3 173.3 20% -55.1-68.1 Switzerland 92.9 97.7 5% 76.9 80.1 4% 16.0 17.6 Norway 43.6 43.7 0% 76.7 92.0 20% -33.1-48.3 Japan 43.8 42.4-3% 78.3 74.8-5% -34.6-32.4 Turkey 52.7 54.3 3% 47.0 45.9-2% 5.7 8.4 South Korea 24.8 25.6 3% 41.4 39.4-5% -16.6-13.7 Brazil 21.3 26.3 24% 32.8 35.5 8% -11.5-9.2 India 29.5 31.5 7% 26.6 29.4 10% 2.9 2.1 Main trading partners EA15 - non seasonally adjusted data EA15 exports to EA15 imports from Trade balance United Kingdom 228.4 219.7-4% 168.2 164.3-2% 60.2 55.4 United States 194.4 186.0-4% 131.1 136.8 4% 63.4 49.3 China 60.1 65.2 8% 171.1 183.0 7% -111.0-117.8 Russia 67.1 76.7 14% 97.9 112.2 15% -30.8-35.5 Switzerland 82.0 86.0 5% 67.0 69.6 4% 15.0 16.4 Poland 72.2 80.6 12% 49.1 55.5 13% 23.2 25.1 Sweden 55.1 53.6-3% 51.8 51.8 0% 3.3 1.8 Czech Republic 49.2 51.7 5% 46.9 52.1 11% 2.4-0.4 Japan 34.2 33.6-2% 58.5 56.5-4% -24.3-22.9 Turkey 40.8 42.2 3% 32.0 32.1 0% 8.8 10.1 Member States total trade (intra-eu + extra-eu) - non seasonally adjusted data
Total exports Total imports Trade balance Belgium 315.3 323.3 3% 301.4 319.2 6% 13.8 4.1 Bulgaria 13.5 15.3 13% 21.9 25.3 16% -8.3-10.1 Czech Republic 89.4 99.4 11% 86.2 96.2 12% 3.2 3.2 Denmark 74.9 79.5 6% 71.9 75.6 5% 3.0 3.9 Germany 964.0 993.9 3% 769.8 818.5 6% 194.3 175.5 Estonia 8.0 8.4 5% 11.4 10.9-5% -3.4-2.5 Ireland 88.7 84.5-5% 61.2 56.4-8% 27.5 28.0 Greece 17.2 17.2 0% 55.6 52.9-5% -38.4-35.7 Spain 184.8 182.4-1% 284.1 272.9-4% -99.2-90.5 France 402.7 411.7 2% 452.0 479.6 6% -49.3-67.9 Italy 358.6 365.8 2% 368.1 377.3 3% -9.4-11.5 Cyprus 1.0 1.1 7% 6.3 7.2 15% -5.3-6.1 Latvia 6.1 6.9 13% 11.2 10.9-3% -5.1-4.0 Lithuania 12.5 16.1 28% 17.8 21.0 18% -5.3-5.0 Luxembourg 16.4 17.3 5% 20.1 21.5 7% -3.7-4.2 Hungary 69.6 73.2 5% 69.7 73.4 5% -0.1-0.1 Malta 2.2 1.9-15% 3.5 3.1-10% -1.2-1.2 Netherlands 401.9 430.4 7% 359.4 389.8 8% 42.4 40.5 Austria 119.4 123.0 3% 119.0 124.7 5% 0.4-1.7 Poland 102.3 114.3 12% 120.9 138.9 15% -18.7-24.6 Portugal 37.6 38.0 1% 57.1 61.2 7% -19.5-23.2 Romania 29.5 33.6 14% 51.3 56.2 10% -21.8-22.7 Slovenia 22.0 23.2 6% 23.0 25.1 9% -1.1-1.9 Slovakia 42.4 48.2 14% 43.9 49.8 13% -1.5-1.6 Finland 65.7 65.5 0% 59.6 61.7 3% 6.1 3.8 Sweden 123.2 124.6 1% 111.3 113.5 2% 11.9 11.2 United Kingdom 320.4 311.7-3% 454.5 429.7-5% -134.1-118.0
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 3 in the choice of seasonal adjustment model and to the use of series in national currency or in euro. EA16 trade - seasonally adjusted data Growth: Flows Aug 08 Sep 08 Oct 08 Nov 08 Dec 08 Jan 09 Sep/Aug Oct/Sep Nov/Oct Dec/Nov Jan/Dec Extra-EA16 exports 130.9 133.6 129.4 119.8 117.1 104.5 2.1% -3.1% -7.4% -2.3% -10.7% Extra-EA16 imports 135.2 136.6 132.2 124.7 118.7 110.0 1.0% -3.2% -5.7% -4.8% -7.3% Extra-EA16 trade balance -4.3-3.0-2.8-4.9-1.7-5.5 Intra-EA16 dispatches 134.0 134.8 130.1 114.9 110.9 111.8 0.6% -3.5% -11.7% -3.5% 0.9% EU27 trade - seasonally adjusted data Flows Growth: Aug 08 Sep 08 Oct 08 Nov 08 Dec 08 Jan 09 Sep/Aug Oct/Sep Nov/Oct Dec/Nov Jan/Dec Extra-EU27 exports 109.8 112.0 109.2 102.2 101.7 84.7 2.0% -2.5% -6.4% -0.5% -16.7% Extra-EU27 imports 131.5 131.6 128.0 122.6 115.8 106.4 0.1% -2.8% -4.2% -5.5% -8.1% Extra-EU27 trade balance -21.7-19.6-18.8-20.3-14.1-21.7 Intra-EU27 dispatches 230.4 231.8 222.8 198.6 186.0 188.0 0.6% -3.9% -10.9% -6.4% 1.1% Contribution of EU27 Member States to extra-eu27 trade - seasonally adjusted data Total exports Total imports Trade balance Dec 08 Jan 09 Growth Dec 08 Jan 09 Growth Dec 08 Jan 09 EU27 101.7 84.7-16.7% 115.8 106.4-8.1% -14.1-21.7 Belgium 5.3 5.4 2.8% 6.9 6.7-2.1% -1.6-1.3 Bulgaria 0.4 0.3-13.1% 0.6 0.5-13.2% -0.2-0.2 Czech Republic 1.2 0.9-29.0% 1.9 1.5-24.0% -0.7-0.6 Denmark 1.8 1.8-3.8% 1.7 1.8 5.5% 0.1-0.1 Germany 30.0 22.8-24.0% 23.3 22.5-3.3% 6.7 0.3 Estonia 0.2 0.1-15.8% 0.2 0.2-19.1% 0.0 0.0 Ireland 2.5 2.6 2.2% 1.1 1.2 10.4% 1.4 1.4 Greece 0.5 0.4-15.2% 1.5 1.5 0.2% -1.0-1.1 Spain 4.1 3.7-8.8% 8.4 6.3-24.1% -4.3-2.6 France 12.1 11.6-4.4% 10.9 10.5-4.2% 1.2 1.1 Italy 12.0 9.4-21.1% 13.2 11.9-9.8% -1.2-2.4 Cyprus 0.0 0.0-17.1% 0.2 0.1-13.5% -0.1-0.1 Latvia 0.2 0.1-5.9% 0.2 0.2-6.6% -0.1-0.1 Lithuania 0.4 0.4-14.4% 0.6 0.5-16.1% -0.2-0.1 Luxembourg 0.1 0.1 2.3% 0.5 0.5-0.4% -0.4-0.4 Hungary 1.0 0.9-12.0% 1.5 1.5-0.9% -0.5-0.6 Malta 0.1 0.1-23.3% 0.1 0.1 62.8% 0.0 0.0 Netherlands 6.5 6.3-3.0% 15.8 12.9-18.4% -9.3-6.6 Austria 2.6 2.4-7.8% 2.2 1.7-23.3% 0.3 0.7 Poland 1.6 1.5-7.2% 2.8 2.6-6.2% -1.1-1.1 Portugal 0.8 0.7-15.0% 1.1 1.0-8.2% -0.3-0.4 Romania 0.6 0.5-8.5% 0.9 0.8-9.9% -0.3-0.2 Slovenia 0.5 0.5-1.2% 0.5 0.5-8.3% 0.0 0.0 Slovakia 0.5 0.3-37.3% 0.9 0.8-10.7% -0.3-0.5 Finland 2.1 1.5-29.7% 1.5 1.4-9.4% 0.6 0.1 Sweden 3.4 3.2-6.9% 2.5 2.5-2.1% 0.9 0.7 United Kingdom 11.1 7.0-36.5% 14.8 14.7-0.7% -3.8-7.7
Seasonally adjusted data 150 130 Extra-EA16 trade 110 90 70 50 30 10-10 -30 01-06 04-06 07-06 10-06 01-07 04-07 07-07 10-07 01-08 04-08 07-08 10-08 01-09 Balance Imports Exports 150 Extra-EU27 trade 130 110 90 70 50 30 10-10 -30 01-06 04-06 07-06 10-06 01-07 04-07 07-07 10-07 01-08 04-08 07-08 10-08 01-09 Balance Imports Exports