Euro-zone external trade surplus €4.2 billion

European
Euro-zone external trade surplus €4.2 billion
By Finfacts Team
May 24, 2005, 10:41

The first estimate for euro-zone 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 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%.

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The first estimate for March 2005 extra-EU25 trade was a 6.5 bn euro deficit, compared with -1.7 bn in March 2004. In February 2005, 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 bn euro 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 bn euro 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 bn euro 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).