27/2012-15 February 2012 First estimate for 2011 Euro area external trade deficit 7.7 152.8 deficit for EU27 The first estimate for the euro area 1 (EA17) trade in goods balance with the rest of the world in December 2011 gave a 9.7 surplus, compared with -1.7 bn in December 2010. The November 2011 2 balance was +6.3 bn, compared with -2.3 bn in November 2010. In December 2011 compared with November 2011, seasonally adjusted exports rose by 0.1% while imports fell by 0.9%. The first estimate for the December 2011 extra-eu27 1 trade balance was a 1.7 surplus, compared with -12.1 bn in December 2010. In November 2011 2 the balance was -7.5 bn, compared with -16.8 bn in November 2010. In December 2011 compared with November 2011, seasonally adjusted exports rose by 1.4% while imports fell by 0.5%. During 2011, euro area trade recorded a deficit of 7.7, compared with -14.7 bn in 2010. The EU27 recorded a deficit of 152.8 bn in 2011, compared with -159.5 bn in 2010. These data 3 are released by Eurostat, the statistical office of the European Union. EU27 detailed results for January to November 2011 The EU27 deficit increased for energy (-353.2 in January-November 2011 compared with -275.5 bn in January-November 2010), while the surplus for manufactured goods rose (+226.8 bn compared with +150.5 bn). EU27 trade with all its major partners grew in January-November 2011 compared with January-November 2010, except for imports from South Korea (-9%). The most notable increases were recorded for exports to Russia (+26%), China and Turkey (both +21%), and for imports from Russia (+25%), India and Norway (both +19%) and Brazil (+18%). The EU27 trade surplus increased with the USA (+68.6 in January-November 2011 compared with +66.2 bn in January-November 2010), Switzerland (+27.1 bn compared with +19.2 bn) and Turkey (+22.8 bn compared with +16.6 bn). The EU27 trade deficit fell with China (-145.4 bn compared with -155.3 bn), Japan (-17.5 bn compared with -20.5 bn) and South Korea (-4.2 bn compared with -11.1 bn), but increased with Russia (-82.3 bn compared with -66.1 bn) and Norway (-42.1 bn compared with -33.2 bn). Concerning the total trade of Member States, the largest surplus was observed in Germany (+145.2 in January-November 2011), followed by Ireland and the Netherlands (both +40.5 bn), Belgium (+10.8 bn) and Denmark (+10.5 bn). The United Kingdom (-109.7 bn) registered the largest deficit, followed by France (-79.1 bn), Spain (-42.7 bn), Italy (-25.8 bn), Greece (-19.0 bn), Portugal (-14.2 bn) and Poland (-13.3 bn).
EA17 trade - non seasonally adjusted data Flows Dec 10 Dec 11 Growth Nov 10 Nov 11 Growth Jan-Dec 10 Jan-Dec 11 Growth Extra-EA17 exports 134.9 147.4 9% 141.2 155.4 r 10% 1 537.3 1 733.1 13% Extra-EA17 imports 136.6 137.7 1% 143.5 149.1 r 4% 1 552.0 1 740.8 12% Extra-EA17 trade balance -1.7 9.7-2.3 6.3 r -14.7-7.7 Intra-EA17 dispatches 4 125.9 124.4-1% 135.5 141.9 r 5% r 1 484.8 1 615.5 9% EU27 trade - non seasonally adjusted data Flows Dec 10 Dec 11 Growth Nov 10 Nov 11 Growth Jan-Dec 10 Jan-Dec 11 Growth Extra-EU27 exports 122.5 135.6 11% 123.2 136.8 11% 1 349.6 1 531.1 13% Extra-EU27 imports 134.6 133.9 0% 140.0 144.3 r 3% 1 509.1 1 683.9 12% Extra-EU27 trade balance -12.1 1.7-16.8-7.5 r -159.5-152.8 Intra-EU27 dispatches 4 214.0 215.4 1% 234.8 247.3 r 5% 2 540.1 2 799.7 10% 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 7/2012 of 13 January 2012, the trade balance for November 2011 has been revised from +6.9 to +6.3 bn for the EA17 and from -7.2 to -7.5 bn for the EU27. 3. This News Release is based on data available on 10 February 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 May 11 Jun 11 Jul 11 Aug 11 Sep 11 Oct 11 Extra-EA17 exports 149.2 143.0 145.1 137.4 r 151.5 r 147.9 Extra-EA17 imports 150.0 r 143.2 r 143.0 r 142.7 r 149.3 r 147.5 r Extra-EA17 trade balance -0.8 r -0.2 r 2.1 r -5.4 r 2.2 r 0.5 r Intra-EA17 dispatches 142.2 138.6 r 128.9 116.5 143.9 r 136.5 r EU27 trade - previous 6 months - non seasonally adjusted data Flows May 11 Jun 11 Jul 11 Aug 11 Sep 11 Oct 11 Extra-EU27 exports 130.7 124.8 129.2 122.7 131.8 r 131.6 r Extra-EU27 imports 144.1 138.0 r 138.8 r 141.4 r 142.9 r 143.1 r Extra-EU27 trade balance -13.4-13.2 r -9.6 r -18.7 r -11.1 r -11.5 r Intra-EU27 dispatches 244.7 r 238.5 222.8 209.3 r 249.6 r 238.8 r r: revised Main products - EA17 - non seasonally adjusted data EA17 exports EA17 imports Trade balance Primary goods: 195.3 239.0 22% 453.1 564.2 25% -257.7-325.1 Food & drink 96.6 110.0 14% 84.1 95.9 14% 12.5 14.0 Raw materials 34.7 41.4 19% 67.6 82.7 22% -32.8-41.2 Energy 64.0 87.6 37% 301.4 385.6 28% -237.4-297.9 Manufactured goods: 1 166.3 1 302.0 12% 935.8 1 011.9 8% 230.4 290.2 Chemicals 244.6 265.8 9% 148.9 164.1 10% 95.6 101.7 Machinery & vehicles 579.9 648.4 12% 442.4 459.2 4% 137.5 189.2 Other manuf d goods 341.8 387.8 13% 344.5 388.5 13% -2.7-0.7 Other 40.8 44.6 9% 26.5 27.1 2% 14.3 17.5 Total 1 402.4 1 585.7 13% 1 415.4 1 603.1 13% -13.0-17.4 Main products EU27 - non seasonally adjusted data EU27 exports EU27 imports Trade balance Primary goods: 173.0 212.3 23% 482.8 606.1 26% -309.8-393.9 Food & drink 69.3 81.1 17% 73.5 83.3 13% -4.2-2.3 Raw materials 34.6 41.0 19% 64.7 79.5 23% -30.1-38.4 Energy 69.1 90.2 30% 344.6 443.4 29% -275.5-353.2 Manufactured goods: 1 016.4 1 142.8 12% 865.9 916.0 6% 150.5 226.8 Chemicals 216.0 232.3 8% 126.3 140.8 11% 89.7 91.5 Machinery & vehicles 517.4 588.2 14% 406.5 404.8 0% 110.9 183.3 Other manuf d goods 283.0 322.4 14% 333.2 370.4 11% -50.2-48.0 Other 37.7 40.5 7% 25.8 27.8 8% 11.9 12.7 Total 1 227.1 1 395.5 14% 1 374.5 1 550.0 13% -147.4-154.5
Main trading partners - EA17 - non seasonally adjusted data EA17 exports to EA17 imports from Trade balance United Kingdom 179.7 196.0 9% 135.3 151.6 12% 44.4 44.4 United States 166.9 180.3 8% 118.2 127.6 8% 48.7 52.7 China 86.5 105.2 22% 192.0 200.2 4% -105.5-95.0 Russia 58.6 73.4 25% 102.0 126.4 24% -43.4-53.0 Switzerland 84.8 99.7 18% 67.1 73.5 10% 17.7 26.3 Poland 72.5 83.8 16% 57.3 64.6 13% 15.2 19.2 Czech Republic 52.2 59.8 15% 58.8 70.0 19% -6.5-10.2 Sweden 48.1 55.7 16% 43.0 48.7 13% 5.1 7.0 Japan 31.8 36.1 14% 47.6 48.5 2% -15.9-12.5 Turkey 43.4 52.1 20% 28.2 32.1 14% 15.2 20.0 Main trading partners EU27 - non seasonally adjusted data EU27 exports to EU27 imports from Trade balance United States 221.9 237.8 7% 155.7 169.1 9% 66.2 68.6 China 102.6 124.0 21% 257.8 269.4 4% -155.3-145.4 Russia 78.6 99.3 26% 144.8 181.7 25% -66.1-82.3 Switzerland 95.6 111.6 17% 76.5 84.5 11% 19.2 27.1 Norway 38.4 42.9 12% 71.6 85.0 19% -33.2-42.1 Turkey 55.3 66.7 21% 38.7 43.9 13% 16.6 22.8 Japan 40.1 44.7 12% 60.6 62.3 3% -20.5-17.5 India 31.2 36.7 18% 30.7 36.5 19% 0.5 0.1 Brazil 28.8 32.5 13% 29.7 35.2 18% -0.9-2.7 South Korea 25.5 29.2 15% 36.5 33.4-9% -11.1-4.2 Member States total trade (intra-eu + extra-eu) - non seasonally adjusted data Total exports Total imports Trade balance Belgium 283.4 316.0 12% 270.9 305.2 13% 12.5 10.8 Bulgaria 14.2 18.5 31% 17.4 21.1 21% -3.2-2.6 Czech Republic 92.1 107.6 17% 87.3 100.3 15% 4.8 7.3 Denmark 67.4 74.7 11% 58.4 64.3 10% 9.0 10.5 Germany 868.8 973.9 12% 727.4 828.8 14% 141.5 145.2 Estonia 7.8 11.1 42% 8.3 11.6 40% -0.5-0.5 Ireland 80.7 84.3 4% 41.3 43.8 6% 39.4 40.5 Greece 14.5 20.2 39% 44.2 39.2-11% -29.7-19.0 Spain 174.8 196.7 13% 223.7 239.4 7% -48.9-42.7 France 360.8 393.0 9% 418.9 472.1 13% -58.1-79.1 Italy 307.7 344.3 12% 334.7 370.1 11% -27.0-25.8 Cyprus 1.0 1.2 23% 5.9 5.7-4% -5.0-4.5 Latvia 6.5 8.6 33% 7.9 10.5 33% -1.4-1.8 Lithuania 14.1 18.4 31% 15.9 20.8 30% -1.8-2.3 Luxembourg 13.7 14.4 5% 17.1 18.9 10% -3.4-4.5 Hungary 66.0 74.5 13% 60.9 67.8 11% 5.1 6.6 Malta 2.5 2.7 8% 3.6 4.1 14% -1.1-1.4 Netherlands 394.0 434.3 10% 354.5 393.7 11% 39.4 40.5 Austria 105.4 118.1 12% 109.6 126.5 15% -4.2-8.5 Poland 110.8 124.5 12% 122.8 137.8 12% -12.0-13.3 Portugal 33.6 39.1 16% 51.9 53.3 3% -18.2-14.2 Romania 34.0 41.7 23% 42.7 50.4 18% -8.7-8.7 Slovenia 20.2 23.1 14% 20.7 23.4 13% -0.5-0.4 Slovakia 44.7 52.6 18% 44.7 51.0 14% 0.0 1.6 Finland 47.6 51.9 9% 47.2 55.0 16% 0.4-3.1 Sweden 108.4 123.9 14% 101.9 115.6 13% 6.5 8.3 United Kingdom 278.6 310.5 11% 385.5 420.2 9% -106.9-109.7
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 Jul 11 Aug 11 Sep 11 Growth: Oct 11 Nov 11 Dec 11 Aug/Jul Sep/Aug Oct/Sep Nov/Oct Dec/Nov Extra-EA17 exports 141.9 148.1 146.8 143.7 149.3 149.5 4.3% -0.9% -2.1% 3.9% 0.1% Extra-EA17 imports 145.5 149.8 144.5 143.2 143.3 142.0 2.9% -3.5% -1.0% 0.1% -0.9% Extra-EA17 trade balance -3.6-1.7 2.2 0.5 6.1 7.5 Intra-EA17 dispatches 132.4 139.1 137.6 131.9 134.6 134.2 5.0% -1.1% -4.1% 2.0% -0.3% EU27 trade - seasonally adjusted data Flows Jul 11 Aug 11 Sep 11 Growth: Oct 11 Nov 11 Dec 11 Aug/Jul Sep/Aug Oct/Sep Nov/Oct Dec/Nov Extra-EU27 exports 125.3 129.8 128.9 128.2 132.1 133.9 3.6% -0.7% -0.5% 3.0% 1.4% Extra-EU27 imports 140.1 144.5 139.1 139.3 138.7 138.0 3.1% -3.7% 0.1% -0.4% -0.5% Extra-EU27 trade balance -14.9-14.7-10.2-11.0-6.6-4.1 Intra-EU27 dispatches 230.3 240.6 237.1 229.2 234.1 233.9 4.4% -1.4% -3.4% 2.1% -0.1% Contribution of EU27 Member States to extra-eu27 trade - seasonally adjusted data Total exports Total imports Trade balance Nov 11 Dec 11 Growth Nov 11 Dec 11 Growth Nov 11 Dec 11 EU27 132.1 133.9 1.4% 138.7 138.0-0.5% -6.6-4.1 Belgium 8.4 8.3-1.5% 8.5 8.5-0.9% -0.2-0.2 Bulgaria 0.6 0.6 11.6% 0.9 0.8-11.5% -0.3-0.1 Czech Republic 1.7 1.8 7.2% 2.3 2.3-0.4% -0.6-0.4 Denmark 2.3 2.5 8.5% 1.6 1.8 7.2% 0.6 0.7 Germany 36.9 37.4 1.5% 26.4 26.6 0.5% 10.5 10.9 Estonia 0.4 0.3-6.0% 0.2 0.2 14.3% 0.2 0.1 Ireland 3.5 3.3-7.5% 1.0 1.2 16.6% 2.5 2.1 Greece 0.7 1.0 30.2% 1.0 1.2 20.2% -0.2-0.2 Spain 6.1 6.4 5.2% 9.7 9.8 1.2% -3.5-3.3 France 15.5 14.3-7.9% 13.3 13.7 2.6% 2.2 0.6 Italy 14.0 14.8 5.4% 15.5 14.5-6.1% -1.4 0.3 Cyprus 0.0 0.0 22.4% 0.2 0.2-11.0% -0.1-0.1 Latvia 0.3 0.3-11.5% 0.2 0.2-6.2% 0.1 0.1 Lithuania 0.6 0.7 10.2% 0.9 0.8-7.4% -0.2-0.1 Luxembourg 0.3 0.3 1.3% 0.3 0.3 0.4% 0.0 0.0 Hungary 1.7 1.6-3.8% 1.9 1.9 0.9% -0.2-0.3 Malta 0.2 0.2-23.1% 0.1 0.1 28.9% 0.1 0.1 Netherlands 9.2 9.6 3.7% 18.5 18.8 2.0% -9.3-9.3 Austria 3.1 3.3 5.5% 3.1 2.6-16.8% 0.1 0.8 Poland 2.4 2.6 7.6% 3.8 3.9 2.2% -1.4-1.3 Portugal 1.0 1.1 1.9% 1.3 1.2-2.6% -0.2-0.2 Romania 1.1 1.0-7.8% 1.2 1.0-14.0% -0.1 0.0 Slovenia 0.6 0.6-0.4% 0.7 0.6-4.4% -0.1 0.0 Slovakia 0.8 0.7-6.9% 1.3 1.3-4.7% -0.5-0.5 Finland 2.1 2.2 3.2% 2.0 2.1 6.0% 0.1 0.0 Sweden 4.7 4.9 5.5% 3.2 3.5 10.3% 1.4 1.4 United Kingdom 13.7 14.1 3.1% 19.7 19.0-3.6% -6.0-4.9
Seasonally adjusted data Extra-EA17 trade 150 130 110 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 04-09 07-09 10-09 01-10 04-10 07-10 10-10 01-11 04-11 07-11 10-11 Balance Imports Exports Extra-EU27 trade 150 130 110 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 04-09 07-09 10-09 01-10 04-10 07-10 10-10 01-11 04-11 07-11 Balance Imports Exports 10-11