108/2012-16 July 2012 May 2012 Euro area international trade in goods surplus of 6.9 3.8 deficit for EU27 The first estimate for the euro area 1 (EA17) trade in goods balance with the rest of the world in May 2012 gave a 6.9 surplus, compared with -1.2 bn in May 2011. The April 2012 2 balance was +3.7 bn, compared with -4.5 bn in April 2011. In May 2012 compared with April 2012, seasonally adjusted exports rose by 0.3% while imports fell by 0.9%. The first estimate for the May 2012 extra-eu27 1 trade in goods balance was a 3.8 deficit, compared with -14.5 bn in May 2011. In April 2012 2 the balance was -12.6 bn, compared with -17.1 bn in April 2011. In May 2012 compared with April 2012, seasonally adjusted exports rose by 1.7% while imports fell by 1.7%. These data 3 are released by Eurostat, the statistical office of the European Union. EU27 detailed results for January to April 2012 The EU27 deficit for energy increased (-144.8 in January-April 2012 compared with -125.9 bn in January- April 2011), as did the surplus for manufactured goods (+103.0 bn compared with +68.3 bn). EU27 exports to most of its major partners grew in January-April 2012 compared with January-April 2011, except for Turkey (-5%) and India (-1%). The most notable increases were recorded for exports to Russia (+19%) and Brazil (+18%). As regards EU27 imports, the pattern was mixed. The largest increases were recorded for imports from Norway (+13%), the USA (+8%) and Russia (+7%), and the largest falls with India (-10%) and Japan (-8%). The EU27 trade surplus increased with the USA (+23.8 in January-April 2012 compared with +21.1 bn in January-April 2011), but fell with Switzerland (+14.6 bn compared with +15.7 bn) and Turkey (+7.7 bn compared with +8.4 bn). The EU27 trade deficit fell with China (-44.5 bn compared with -50.1 bn), Russia (-35.0 bn compared with -36.1 bn) and Japan (-4.5 bn compared with -8.4 bn), but increased with Norway (-20.6 bn compared with -17.0 bn). Concerning the total trade of Member States, the largest surplus was observed in Germany (+59.3 in January-April 2012), followed by the Netherlands (+16.2 bn) and Ireland (+13.4 bn). The United Kingdom (-51.8 bn) registered the largest deficit, followed by France (-29.0 bn) and Spain (-15.3 bn).
EA17 trade - non seasonally adjusted data Flows May 11 May 12 Growth Apr 11 Apr 12 Growth Jan-May 11 Jan-May 12 Growth Extra-EA17 exports 149.3 157.6 6% 139.1 147.3 r 6% 706.1 758.6 7% Extra-EA17 imports 150.4 150.7 0% 143.7 143.6 r 0% r 730.7 747.6 2% Extra-EA17 trade balance -1.2 6.9-4.5 3.7 r -24.5 11.0 Intra-EA17 dispatches 4 142.6 138.1-3% 133.0 130.6 r -2% r 687.9 686.6 0% EU27 trade - non seasonally adjusted data Flows May 11 May 12 Growth Apr 11 Apr 12 Growth Jan-May 11 Jan-May 12 Growth Extra-EU27 exports 131.9 144.3 9% 122.5 131.6 r 7% 629.1 680.8 8% Extra-EU27 imports 146.4 148.1 1% 139.6 144.2 r 3% 710.6 741.4 4% Extra-EU27 trade balance -14.5-3.8-17.1 r -12.6 r -81.5-60.6 Intra-EU27 dispatches 4 245.1 240.6-2% 228.3 226.3 r -1% 1 181.6 1 190.8 1% r: revised 1. The euro area (EA17) consists of Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland. The EU27 includes Belgium, Bulgaria, the Czech Republic, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland, Sweden and the United Kingdom. 2. Compared with News Release 92/2012 of 15 June 2012, the trade balance for April 2012 has been revised from +5.2 bn euro to +3.7 bn for the EA17 and from -12.0 bn to -12.6 bn for the EU27. 3. This News Release is based on data available on 11 July 2012. 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. 4. 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 area, which includes some intra-eu trade. Issued by: Eurostat Press Office Tim ALLEN Tel: +352-4301-35 108 eurostat-pressoffice@ec.europa.eu For further information on data: Gilberto GAMBINI Tel: +352-4301-35 806 estat-etfree@ec.europa.eu Eurostat news releases on the internet: http://ec.europa.eu/eurostat Selected Principal European Economic Indicators: http://ec.europa.eu/eurostat/euroindicators
EA17 trade - previous 6 months - non seasonally adjusted data Flows Oct 11 Nov 11 Dec 11 Jan 12 Feb 12 Mar 12 Extra-EA17 exports 147.9 r 155.8 r 147.9 138.8 r 149.8 165.0 r Extra-EA17 imports 147.9 150.2 139.1 r 147.5 r 147.9 r 157.9 r Extra-EA17 trade balance 0.0 5.5 8.8 r -8.7 1.9 r 7.2 r Intra-EA17 dispatches 134.9 140.5 r 124.9 r 131.2 r 136.6 r 150.2 r EU27 trade - previous 6 months - non seasonally adjusted data Flows Oct 11 Nov 11 Dec 11 Jan 12 Feb 12 Mar 12 Extra-EU27 exports 135.3 138.7 137.7 r 124.0 133.3 147.6 Extra-EU27 imports 145.9 147.5 137.4 r 148.6 r 145.6 154.9 Extra-EU27 trade balance -10.6-8.8 0.3-24.5-12.3-7.3 Intra-EU27 dispatches 237.5 r 246.1 r 215.5 r 228.3 r 236.4 r 259.2 r: revised Main products - EA17 - non seasonally adjusted data EA17 exports EA17 imports Trade balance Primary goods: 84.4 94.1 12% 202.4 223.9 11% -118.0-129.8 Food & drink 38.3 40.4 5% 34.1 35.1 3% 4.2 5.3 Raw materials 15.0 16.4 9% 29.9 28.4-5% -14.9-12.1 Energy 31.1 37.4 20% 138.4 160.4 16% -107.3-123.0 Manufactured goods: 457.8 489.5 7% 369.0 362.5-2% 88.8 126.9 Chemicals 95.7 101.3 6% 59.8 61.7 3% 35.8 39.5 Machinery & vehicles 226.8 245.7 8% 169.2 166.5-2% 57.7 79.2 Other manuf d goods 135.3 142.5 5% 140.0 134.3-4% -4.7 8.2 Other 14.7 17.4 18% 8.9 10.5 18% 5.9 7.0 Total 556.9 601.0 8% 580.3 596.9 3% -23.4 4.1 Main products EU27 - non seasonally adjusted data EU27 exports EU27 imports Trade balance Primary goods: 75.9 87.1 15% 218.1 243.0 11% -142.2-156.0 Food & drink 27.9 30.3 9% 30.2 30.5 1% -2.2-0.2 Raw materials 14.7 16.5 12% 28.7 27.4-4% -14.0-11.0 Energy 33.3 40.3 21% 159.2 185.1 16% -125.9-144.8 Manufactured goods: 400.3 432.9 8% 332.0 329.9-1% 68.3 103.0 Chemicals 83.2 88.9 7% 50.8 53.2 5% 32.4 35.7 Machinery & vehicles 204.8 223.6 9% 148.3 149.1 1% 56.5 74.5 Other manuf d goods 112.3 120.4 7% 133.0 127.6-4% -20.6-7.2 Other 21.0 16.6-21% 14.1 20.3 44% 6.9-3.8 Total 497.2 536.5 8% 564.2 593.3 5% -67.0-56.8
Main trading partners - EA17 - non seasonally adjusted data EA17 exports to EA17 imports from Trade balance United Kingdom 70.1 75.3 7% 54.4 56.3 3% 15.7 19.0 United States 64.8 71.3 10% 48.3 50.7 5% 16.5 20.6 China 36.6 40.0 9% 69.9 68.1-3% -33.3-28.1 Russia 23.5 27.9 19% 48.6 49.9 3% -25.0-22.0 Switzerland 34.7 39.1 12% 25.3 26.1 3% 9.4 12.9 Poland 29.8 29.4-1% 23.1 23.5 2% 6.7 5.9 Czech Republic 21.1 21.9 4% 24.8 25.8 4% -3.7-3.9 Sweden 20.4 20.2-1% 17.8 17.5-2% 2.6 2.8 Japan 12.4 14.0 13% 18.6 16.7-10% -6.2-2.7 Turkey 19.5 18.7-4% 12.2 11.4-7% 7.2 7.3 Main trading partners EU27 - non seasonally adjusted data EU27 exports to EU27 imports from Trade balance United States 85.8 93.7 9% 64.7 69.9 8% 21.1 23.8 China 43.0 47.2 10% 93.1 91.7-1% -50.1-44.5 Russia 31.9 38.0 19% 68.0 73.0 7% -36.1-35.0 Switzerland 45.5 45.9 1% 29.7 31.3 5% 15.7 14.6 Norway 15.3 15.8 3% 32.3 36.4 13% -17.0-20.6 Turkey 25.0 23.7-5% 16.6 16.0-4% 8.4 7.7 Japan 15.6 17.5 13% 24.0 22.0-8% -8.4-4.5 India 13.1 13.0-1% 13.8 12.4-10% -0.7 0.6 Brazil 10.9 12.9 18% 12.2 12.1-1% -1.3 0.8 South Korea 10.4 11.9 15% 12.3 12.1-2% -1.9-0.1 Member States total trade (intra-eu + extra-eu) - non seasonally adjusted data Total exports Total imports Trade balance Belgium 115.5 118.2 2% 112.1 112.8 1% 3.4 5.4 Bulgaria 6.4 6.3-2% 7.2 7.9 10% -0.8-1.6 Czech Republic 38.2 41.2 8% 35.5 36.4 3% 2.7 4.7 Denmark 26.8 27.0 1% 22.8 24.1 6% 4.0 2.9 Germany 344.4 362.3 5% 293.1 303.0 3% 51.3 59.3 Estonia 3.8 4.0 5% 4.1 4.4 6% -0.3-0.3 Ireland 30.8 29.9-3% 17.5 16.5-5% 13.3 13.4 Greece 6.7 7.5 13% 15.5 13.5-13% -8.8-6.0 Spain 73.8 73.8 0% 90.7 89.0-2% -16.9-15.3 France 142.3 149.0 5% 172.8 178.0 3% -30.5-29.0 Italy 121.2 125.7 4% 137.1 129.3-6% -15.9-3.6 Cyprus 0.4 0.4 1% 2.1 1.9-9% -1.6-1.4 Latvia 2.8 3.2 16% 3.3 4.0 20% -0.6-0.8 Lithuania 6.1 6.9 14% 7.1 7.9 12% -1.0-1.0 Luxembourg 5.4 5.5 2% 6.5 7.0 8% -1.2-1.5 Hungary 26.8 26.4-2% 24.2 24.2 0% 2.5 2.1 Malta 1.0 1.1 6% 1.5 1.4-7% -0.5-0.3 Netherlands 156.7 167.9 7% 140.7 151.6 8% 16.0 16.2 Austria 41.5 42.5 2% 44.7 45.4 2% -3.1-2.8 Poland 44.2 45.9 4% 49.0 49.9 2% -4.8-3.9 Portugal 13.7 14.9 9% 19.6 18.6-5% -5.9-3.7 Romania 14.5 14.5 0% 17.0 17.1 1% -2.5-2.6 Slovenia 8.2 8.3 1% 8.3 8.4 1% -0.2-0.1 Slovakia 18.2 19.9 10% 17.9 18.8 5% 0.3 1.2 Finland 18.7 18.7 0% 19.9 19.9 0% -1.2-1.2 Sweden 45.2 45.2 0% 42.4 42.2-1% 2.8 3.0 United Kingdom 120.6 120.5 0% 153.9 172.3 12% -33.3-51.8
Annex - Seasonally adjusted data Seasonally adjusted series have been calculated using a harmonised methodology. The seasonally adjusted series give a complementary view of the monthly developments in 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. EA17 trade - seasonally adjusted data Flows Dec 11 Jan 12 Feb 12 Mar 12 Apr 12 May 12 Growth: Jan/Dec Feb/Jan Mar/Feb Apr/Mar May/Apr Extra-EA17 exports 152.5 153.3 153.7 155.3 153.1 153.5 0.5% 0.3% 1.0% -1.4% 0.3% Extra-EA17 imports 145.1 148.6 151.7 150.9 148.6 147.2 2.4% 2.1% -0.5% -1.5% -0.9% Extra-EA17 trade balance 7.4 4.7 2.0 4.4 4.5 6.3 Intra-EA17 dispatches 134.9 134.4 135.3 135.8 133.7 134.5-0.3% 0.6% 0.4% -1.6% 0.7% EU27 trade - seasonally adjusted data Flows Dec 11 Jan 12 Feb 12 Mar 12 Apr 12 May 12 Growth: Jan/Dec Feb/Jan Mar/Feb Apr/Mar May/Apr Extra-EU27 exports 137.7 138.8 137.7 141.3 138.3 140.7 0.8% -0.8% 2.6% -2.1% 1.7% Extra-EU27 imports 142.3 147.4 150.8 149.9 148.6 146.0 3.6% 2.3% -0.5% -0.9% -1.7% Extra-EU27 trade balance -4.6-8.6-13.1-8.7-10.3-5.3 Intra-EU27 dispatches 235.1 235.8 236.2 236.3 233.0 234.1 0.3% 0.2% 0.0% -1.4% 0.4% Contribution of EU27 Member States to extra-eu27 trade - seasonally adjusted data Total exports Total imports Trade balance Apr 12 May 12 Growth Apr 12 May 12 Growth Apr 12 May 12 EU27 138.3 140.7 1.7% 148.6 146.0-1.7% -10.3-5.3 Belgium 9.2 8.5-7.3% 9.3 8.9-4.2% -0.1-0.4 Bulgaria 0.6 0.8 21.9% 1.0 1.0-0.3% -0.3-0.2 Czech Republic 2.0 1.9-4.0% 2.5 2.4-3.0% -0.5-0.5 Denmark 2.6 2.7 3.8% 1.8 1.8 2.5% 0.8 0.9 Germany 38.1 38.3 0.6% 27.6 27.8 0.8% 10.5 10.5 Estonia 0.4 0.3-17.1% 0.2 0.3 15.1% 0.1 0.0 Ireland 2.8 2.9 3.1% 1.2 1.3 6.2% 1.6 1.6 Greece 1.1 1.0-6.2% 1.7 1.5-8.9% -0.6-0.5 Spain 6.5 6.7 2.0% 10.1 9.1-9.3% -3.5-2.5 France 14.8 14.7-0.7% 14.5 13.2-9.0% 0.3 1.5 Italy 14.4 15.3 6.2% 15.1 15.7 4.6% -0.7-0.5 Cyprus 0.1 0.0-26.1% 0.2 0.2-8.1% -0.1-0.1 Latvia 0.3 0.3 12.0% 0.2 0.2 0.1% 0.0 0.1 Lithuania 0.7 0.7-8.6% 0.8 0.4-45.9% -0.1 0.2 Luxembourg 0.2 0.2 6.1% 0.4 0.5 21.4% -0.2-0.2 Hungary 1.6 1.7 8.5% 1.8 1.9 4.6% -0.2-0.2 Malta 0.2 0.2 23.7% 0.1 0.1 76.3% 0.1 0.1 Netherlands 10.4 10.5 1.4% 20.9 21.3 1.9% -10.5-10.7 Austria 3.3 3.3-1.3% 2.7 2.6-3.9% 0.6 0.6 Poland 2.7 2.7 1.6% 4.0 4.2 4.4% -1.3-1.5 Portugal 1.1 1.1 2.9% 1.2 1.4 15.0% -0.1-0.2 Romania 1.2 1.1-4.5% 1.3 1.3 0.1% -0.1-0.2 Slovenia 0.7 0.6-0.4% 0.7 0.7-0.9% 0.0 0.0 Slovakia 0.9 0.9 8.1% 1.3 1.2-2.6% -0.4-0.3 Finland 2.1 2.1 2.0% 1.9 1.9-3.5% 0.2 0.3 Sweden 4.6 4.8 4.3% 3.5 3.4-3.2% 1.1 1.4 United Kingdom 15.9 17.0 7.4% 22.7 21.7-4.6% -6.8-4.6
Seasonally adjusted data Extra-EA17 trade 145 125 105 85 65 45 25 5-15 -35 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 04-09 07-09 10-09 01-10 04-10 07-10 10-10 01-11 04-11 07-11 10-11 01-12 04-12 Balance Imports Exports Extra-EU27 trade 145 125 105 85 65 45 ` 25 5-15 -35 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 04-09 07-09 10-09 01-10 04-10 07-10 10-10 01-11 04-11 07-11 10-11 01-12 04-12 Balance Imports Exports