STAT/05/67 24 May 2005 March 2005 Euro-zone external trade surplus 4.2 6.5 deficit for EU25 The first estimate for euro-zone 1 trade with the rest of the world in March 2005 was a 4.2 billion euro surplus, compared with +10.4 bn in March 2004. The February 2005 2 balance was +3.6 bn, compared with +6.9 bn in February 2004. In March 2005 compared with February 2005, exports, seasonally adjusted, were stable while imports rose by 1.0%. The first estimate for March 2005 extra-eu25 3 trade was a 6.5 deficit, compared with -1.7 bn in March 2004. In February 2005 2, the balance was -6.8 bn, compared with -3.8 bn in February 2004. In March 2005 compared with February 2005, exports, seasonally adjusted, rose by 1.3% and imports by 2.5%. These data are released by Eurostat, the Statistical Office of the European Communities. EU25 January-February 2005 detailed results The energy deficit grew strongly (-28.8 in January-February 2005 compared with -20.4 bn in January- February 2004), while the surplus for machinery and vehicles rose (+10.9 bn compared with +8.6 bn). The surplus in the chemicals sector decreased (+8.7 bn compared with +9.5 bn). EU25 trade flows with its major partners were mixed. Imports from the USA (-4% in January-February 2005 compared with January-February 2004) and Switzerland (-2%), as well as both trade flows with Japan (-5% for exports and -11% for imports) and Canada (-3% for exports and -9% for imports) fell. Exports to China and Turkey were stable. The most notable increases were for exports to Russia (+24%), Norway (+11%) and Switzerland (+9%), and for imports from Russia (+32%), Turkey (+19%), China (+17%) and India (+10%). EU25 trade was characterised by an increase in the EU25 surplus with the USA (+11.7 in January- February 2005 compared with +10.5 bn in January-February 2004) and Switzerland (+2.6 bn compared with +1.5 bn). The EU25 trade deficit increased with China (-15.0 bn compared with -11.8 bn) and Russia (-7.5 bn compared with -5.4 bn), remained nearly stable with Norway (-4.3 bn compared with -4.4 bn) and decreased with Japan (-3.9 bn compared with -4.9 bn). Concerning the total trade of Member States, the largest surplus was observed in Germany (+26.5 in January-February 2005), followed by the Netherlands (+5.3 bn), Ireland (+4.8 bn) and Sweden (+2.8 bn). The United Kingdom (-15.6 bn) registered the largest deficit, followed by Spain (-10.1 bn), Greece (-4.5 bn) and France (-4.2 bn).
Euro-zone trade - non seasonally adjusted data Flows Mar 05 Mar 04 Feb 05 Feb 04 Jan-Mar 05 Jan-Mar 04 Extra-eurozone exports 102.0 102.1 0% 91.4 r 87.6 r 4% 280.7 271.4 3% Extra-eurozone imports 97.8 91.6 7% 87.8 r 80.7 r 9% 274.6 252.3 9% Extra-eurozone trade balance 4.2 10.4 3.6 r 6.9 6.1 19.1 Intra-eurozone dispatches 109.8 108.0 2% 98.5 r 93.0 6% r 302.3 289.6 4% EU25 trade - non seasonally adjusted data Flows Mar 05 Mar 04 Feb 05 Feb 04 Jan-Mar 05 Jan-Mar 04 Extra-EU25 exports 86.9 84.5 3% 75.8 71.5 6% 234.3 222.3 5% Extra-EU25 imports 93.4 86.2 8% 82.6 75.3 10% 261.8 239.8 9% Extra-EU25 trade balance -6.5-1.7-6.8-3.8-27.5-17.6 Intra-EU25 dispatches 183.2 182.7 0% 167.0 r 158.4 5% r 510.2 490.5 4% r: Revised 1. Euro-zone: Belgium, Germany, Greece, Spain, France, Ireland, Italy, Luxembourg, Netherlands, Austria, Portugal and Finland. 2. The first estimates for February 2005 were +3.0 for the euro-zone and -6.8 bn for the EU25. See News Release 54/2005 issued on 20 April 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 May 2005. 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 March 2005 and first estimates for April 2005 will be issued on 22 June 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 Jan 05 Dec 04 Nov 04 Oct 04 Sep 04 Aug 04 Extra-eurozone exports 87.3 r 98.3 r 102.3 r 102.2 97.9 86.0 Extra-eurozone imports 89.0 r 92.8 r 99.5 r 96.6 r 95.6 r 83.6 r Extra-eurozone trade balance -1.7 5.4 r 2.8 r 5.6 r 2.3 r 2.4 r Intra-eurozone dispatches 94.0 r 97.5 r 109.3 r 105.7 r 105.1 80.2 EU25 trade - previous 6 months - non seasonally adjusted data Flows Jan 05 Dec 04 Nov 04 Oct 04 Sep 04 Aug 04 Extra-EU25 exports 71.6 r 87.2 85.2 r 85.0 82.7 74.0 r Extra-EU25 imports 85.8 r 88.2 r 93.8 r 91.7 r 90.6 82.3 r Extra-EU25 trade balance -14.2 r -1.0-8.6-6.8 r -7.9-8.4 r Intra-EU25 dispatches 160.0 r 164.4 r 186.2 r 181.3 179.7 141.8 r: Revised Main products - Euro-zone - non seasonally adjusted data Euro-zone exports Euro-zone imports Trade balance Jan-Feb 05 Jan-Feb 04 Jan-Feb 05 Jan-Feb 04 Jan-Feb 05 Jan-Feb 04 Primary products: 18.9 17.3 9% 47.7 38.8 23% -28.8-21.5 Food & drink 10.5 9.7 8% 9.1 9.3-1% 1.3 0.4 Crude materials 3.8 3.5 6% 8.1 7.0 15% -4.3-3.5 Energy 4.6 4.1 12% 30.5 22.5 35% -25.8-18.4 Manufactured goods: 155.2 146.6 6% 126.1 116.7 8% 29.1 29.9 Chemicals 28.3 26.8 6% 18.7 16.1 16% 9.6 10.6 Machinery & vehicles 79.4 76.4 4% 60.4 58.0 4% 18.9 18.4 Other manuf d articles 47.6 43.5 9% 47.0 42.6 10% 0.6 0.9 Other 4.6 5.4-15% 3.0 5.2-43% 1.6 0.2 Total 178.7 169.3 6% 176.8 160.7 10% 1.9 8.6 Main products EU25 - non seasonally adjusted data EU25 exports EU25 imports Trade balance Jan-Feb 05 Jan-Feb 04 Jan-Feb 05 Jan-Feb 04 Jan-Feb 05 Jan-Feb 04 Primary products: 15.5 14.6 6% 50.8 41.2 23% -35.3-26.6 Food & drink 7.3 6.9 6% 8.9 9.1-2% -1.6-2.2 Crude materials 3.1 3.1 0% 8.0 7.1 13% -4.9-4.0 Energy 5.1 4.6 11% 33.9 25.0 36% -28.8-20.4 Manufactured goods: 127.4 119.7 6% 114.3 107.3 7% 13.1 12.4 Chemicals 23.9 23.2 3% 15.2 13.7 11% 8.7 9.5 Machinery & vehicles 63.8 60.7 5% 52.9 52.1 2% 10.9 8.6 Other manuf d articles 39.7 35.8 11% 46.1 41.5 11% -6.4-5.7 Other 4.4 3.5 26% 3.3 5.2-37% 1.1-1.7 Total 147.4 137.8 7% 168.4 153.7 10% -21.0-15.9
Main trading partners - Euro-zone - non seasonally adjusted data Euro-zone exports to Euro-zone imports from Trade balance Jan-Feb 05 Jan-Feb 04 Jan-Feb 05 Jan-Feb 04 Jan-Feb 05 Jan-Feb 04 United Kingdom 31.8 31.8 0% 22.3 21.6 3% 9.5 10.1 United States 25.7 25.9-1% 17.0 16.8 1% 8.8 9.0 China 5.7 5.7 1% 16.2 13.3 21% -10.5-7.7 Switzerland 10.7 9.7 10% 8.3 8.4 0% 2.3 1.4 Russia 5.4 4.5 20% 10.0 7.6 32% -4.7-3.1 Sweden 6.9 6.5 6% 6.2 5.9 5% 0.6 0.5 Japan 5.2 5.4-4% 7.7 8.4-9% -2.5-3.0 Poland 6.4 5.7 13% 4.8 4.8 2% 1.6 0.9 Czech Republic 5.1 4.6 12% 4.8 4.4 9% 0.4 0.2 Hungary 4.2 4.0 6% 3.9 4.1-5% 0.3-0.1 Main trading partners - EU25 - non seasonally adjusted data EU25 exports to EU25 imports from Trade balance Jan-Feb 05 Jan-Feb 04 Jan-Feb 05 Jan-Feb 04 Jan-Feb 05 Jan-Feb 04 United States 34.8 34.6 1% 23.1 24.0-4% 11.7 10.5 China 6.7 6.8 0% 21.7 18.5 17% -15.0-11.8 Switzerland 12.1 11.1 9% 9.5 9.7-2% 2.6 1.5 Russia 7.0 5.6 24% 14.5 11.0 32% -7.5-5.4 Japan 6.6 6.9-5% 10.5 11.8-11% -3.9-4.9 Norway 4.8 4.3 11% 9.2 8.8 4% -4.3-4.4 Turkey 5.1 5.1 0% 5.1 4.3 19% 0.0 0.9 South Korea 2.8 2.7 3% 4.6 4.4 4% -1.8-1.7 India 2.7 2.6 5% 2.8 2.5 10% -0.1 0.1 Canada 3.0 3.1-3% 2.2 2.5-9% 0.8 0.7 Member States total trade (intra-eu25 + extra-eu25) - non seasonally adjusted data Total exports Total imports Trade balance Jan-Feb 05 Jan-Feb 04 Jan-Feb 05 Jan-Feb 04 Jan-Feb 05 Jan-Feb 04 Belgium 40.8 37.4 9% 40.4 34.4 17% 0.4 3.0 Czech Republic 9.4 7.4 27% 9.1 7.1 28% 0.3 0.3 Denmark 10.0 9.2 8% 9.2 8.3 11% 0.8 0.9 Germany 119.1 112.2 6% 92.7 86.5 7% 26.5 25.7 Estonia 0.8 0.6 29% 1.0 0.9 18% -0.2-0.2 Greece 1.9 1.7 8% 6.4 6.4-1% -4.5-4.7 Spain 22.9 22.1 4% 33.0 29.1 13% -10.1-7.0 France 55.3 55.4 0% 59.5 56.9 5% -4.2-1.5 Ireland 13.0 13.0 0% 8.3 7.7 7% 4.8 5.3 Italy 40.7 38.1 7% 44.3 41.4 7% -3.7-3.3 Cyprus 0.1 0.1 142% 0.7 0.5 32% -0.5-0.4 Latvia 0.6 0.4 30% 0.9 0.7 25% -0.3-0.3 Lithuania 1.2 1.0 19% 1.5 1.3 13% -0.3-0.3 Luxembourg 2.1 1.9 10% 2.6 2.4 12% -0.5-0.4 Hungary 7.1 6.4 11% 7.6 6.7 12% -0.5-0.4 Malta 0.3 0.3-15% 0.4 0.4 5% -0.2-0.1 Netherlands 48.0 43.2 11% 42.8 38.3 12% 5.3 4.9 Austria 15.0 14.0 7% 14.8 14.1 5% 0.1-0.1 Poland 10.6 8.1 30% 11.3 9.5 18% -0.7-1.4 Portugal 4.4 4.6-4% 6.5 6.7-3% -2.1-2.1 Slovenia 2.1 1.8 15% 2.2 1.9 16% -0.1-0.1 Slovakia 3.6 3.1 14% 3.8 3.1 22% -0.2 0.0 Finland 8.0 7.4 8% 6.5 6.0 9% 1.4 1.4 Sweden 15.7 14.8 6% 12.9 11.6 11% 2.8 3.2 United Kingdom 41.8 41.3 1% 57.4 57.5 0% -15.6-16.2
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 Mar 05 Feb 05 Jan 05 Dec 04 Nov 04 Oct 04 Mar/Feb Feb/Jan Jan/Dec Dec/Nov Nov/Oct Extra-eurozone exports 97.0 97.0 97.2 97.4 98.3 96.2 0.0% -0.2% -0.2% -0.9% 2.1% Extra-eurozone imports 92.6 91.7 92.4 92.4 94.3 93.5 1.0% -0.8% 0.1% -2.0% 0.8% Extra-eurozone trade balance 4.4 5.3 4.8 5.0 4.0 2.7 Intra-eurozone dispatches 99.7 100.1 99.0 100.0 103.7 100.1-0.4% 1.0% -0.9% -3.6% 3.5% EU25 trade seasonally adjusted data Flows Mar 05 Feb 05 Jan 05 Dec 04 Nov 04 Oct 04 Mar/Feb Feb/Jan Jan/Dec Dec/Nov Nov/Oct Extra-EU25 exports 83.3 82.2 82.3 82.8 82.5 80.3 1.3% -0.1% -0.6% 0.3% 2.7% Extra-EU25 imports 89.7 87.5 88.2 88.6 90.0 89.2 2.5% -0.8% -0.4% -1.6% 0.9% Extra-EU25 trade balance -6.4-5.3-5.9-5.8-7.5-8.8 Intra-EU25 dispatches 168.4 169.9 169.5 170.3 175.1 171.6-0.9% 0.2% -0.5% -2.7% 2.0% Contribution of EU25 Member States to extra-eu25 trade seasonally adjusted data Total exports Total imports Trade balance Mar 05 Feb 05 Mar 05 Feb 05 Mar 05 Feb 05 EU25 83.3 82.2 1.3% 89.7 87.5 2.5% -6.4-5.3 Belgium 4.7 4.9-3.7% 5.9 6.0-1.5% -1.2-1.1 Czech Republic 0.8 0.7 5.3% 0.8 0.8-1.8% 0.0-0.1 Denmark 1.5 1.7-8.0% 1.3 1.3 1.3% 0.2 0.3 Germany 22.8 22.8 0.1% 16.7 16.8-0.7% 6.1 6.0 Estonia 0.1 0.1 2.0% 0.1 0.1 2.3% -0.1-0.1 Greece 0.5 0.5 2.6% 1.7 1.5 13.7% -1.3-1.1 Spain 2.9 3.0-3.0% 6.4 5.9 9.0% -3.5-2.8 France 10.7 10.5 1.8% 10.1 9.7 4.6% 0.5 0.8 Ireland 2.7 2.4 8.6% 1.3 1.4-5.4% 1.3 1.1 Italy 9.8 9.3 5.2% 10.1 9.9 2.0% -0.3-0.5 Cyprus 0.0 0.0 11.5% 0.1 0.1-24.7% -0.1-0.1 Latvia 0.1 0.1 31.0% 0.1 0.1 1.8% -0.1-0.1 Lithuania 0.2 0.2 17.9% 0.4 0.3 10.9% -0.2-0.2 Luxembourg 0.1 0.1 11.6% 0.3 0.3-24.0% -0.1-0.2 Hungary 0.9 0.9-0.5% 1.4 1.3 3.1% -0.4-0.4 Malta 0.1 0.1-11.1% 0.1 0.1-7.6% 0.0 0.0 Netherlands 5.3 5.2 1.4% 10.8 10.7 1.1% -5.6-5.5 Austria 2.4 2.3 4.1% 1.6 1.5 8.8% 0.8 0.9 Poland 1.3 1.3-4.5% 1.6 1.5 3.1% -0.3-0.2 Portugal 0.5 0.5 9.8% 0.9 0.8 19.3% -0.4-0.3 Slovenia 0.4 0.4 2.6% 0.2 0.2 1.6% 0.2 0.2 Slovakia 0.2 0.2 4.6% 0.5 0.4 5.1% -0.2-0.2 Finland 1.9 1.9 1.4% 1.3 1.3 1.8% 0.6 0.6 Sweden 3.5 3.4 1.8% 2.0 2.0 1.0% 1.5 1.5 United Kingdom 9.8 9.6 2.5% 14.0 13.4 4.5% -4.2-3.8
Seasonally adjusted data 100 Extra-eurozone trade 80 60 40 20 0-20 01-03 04-03 07-03 10-03 01-04 04-04 07-04 10-04 01-05 Balance Imports Exports 100 Extra-EU25 trade 80 60 40 20 0-20 01-03 04-03 07-03 10-03 01-04 04-04 07-04 10-04 01-05 Balance Imports Exports