The first estimate for the euro area (EA18) trade in goods balance with the rest of the world in June 2014 gave a €16.8 billion surplus, compared with +€15.7 bn in June 2013. The May 2014 balance was +€15.4 bn, compared with +€14.6 bn in May 2013. In June 2014 compared with May 2014, seasonally adjusted exports fell by 0.5% while imports rose by 0.5%.

The first estimate for the June 2014 extra-EU28 trade balance was a €2.9 bn surplus, compared with +€8.6 bn in June 2013. In May 2014 the balance was +€0.5 bn, compared with +€15.0 bn in May 2013. In June 2014 compared with May 2014, seasonally adjusted exports fell by 0.3% and imports by 0.1%.

EU28 detailed results for January to May 2014

The EU28 deficit for energy decreased (-€145.4 bn in January-May 2014 compared with -€156.6 bn in January-May 2013), as did the surplus for machinery and vehicles (+€101.6 bn compared with +€111.1 bn).

The highest increases in EU28 exports were registered with China (+10% in January-May 2014 compared with January-May 2013) and South Korea (+8%), and for EU28 imports with South Korea (+10%), Switzerland and Turkey (both +6%). The most notable decreases were recorded for exports to Switzerland (-22%), Russia (-12%) and India (-11%), and for imports from Russia (-8%), Brazil (-7%) and Japan (-6%).

The EU28 trade surplus increased with the USA (+€41.8 bn in January-May 2014 compared with +€37.8 bn in January-May 2013), but decreased with Switzerland (+€19.2 bn compared with +€38.0 bn) and Turkey (+€8.3 bn compared with +€12.0 bn). The EU28 trade deficit fell with China (-€50.9 bn compared with -€53.0 bn) and Russia (-€38.6 bn compared with -€39.6 bn) and remained stable with Norway (-€16.9 bn).

Concerning the total trade of Member States, the largest surplus was observed in Germany (+€84.0 bn in January-May 2014), followed by the Netherlands (+€25.2 bn), Ireland and Italy (both +€14.1 bn). The United Kingdom (-€48.1 bn) registered the largest deficit, followed by France (-€30.4 bn), Spain (-€10.1 bn) and Greece (-€8.8 bn).