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Home News Europe Euro Area International Trade in Goods Surplus €9.2 bn - August 2014


Euro Area International Trade in Goods Surplus €9.2 bn - August 2014
added: 2014-10-21

The first estimate for the euro area (EA18) trade in goods balance with the rest of the world in August 2014 gave a €9.2 billion surplus, compared with +€7.3 bn in August 2013. The July 2014 balance was +€21.6 bn, compared with +€18.0 bn in July 2013. In August 2014 compared with July 2014, seasonally adjusted exports fell by 0.9% and imports by 3.1%.

The first estimate for the August 2014 extra-EU28 trade balance was a €8.9 bn deficit, compared with -€2.3 bn in August 2013. In July 2014 the balance was +€1.6 bn, compared with +€10.7 bn in July 2013. In August 2014 compared with July 2014, seasonally adjusted exports fell by 2.1% and imports by 4.0%.

EU28 detailed results for January to July 2014

The EU28 deficit for energy decreased (-€201.9 bn in January-July 2014 compared with -€219.4 bn in January-July 2013), as did the surplus for machinery and vehicles (+€149.3 bn compared with +€162.4 bn).The highest increases in EU28 exports were registered with China (+11% in January-July 2014 compared with January-July 2013), South Korea (+10%) and the United States (+5%), and for EU28 imports with South Korea (+12%), Turkey (+7%), China (+6%) and Switzerland (+5%). The most notable decreases were recorded for exports to Switzerland (-22%), Russia (-12%) and India (-10%), and for imports from Russia and Norway (both -7%) and Brazil (-5%).

The EU28 trade surplus increased with the USA (+€59.4 bn in January-July 2014 compared with +€52.9 bn in January-July 2013), but decreased with Switzerland (+€24.2 bn compared with +€50.5 bn) and Turkey (+€11.0 bn compared with +€17.1 bn). The EU28 trade deficit fell with Norway (-€21.2 bn compared with -€24.3 bn), and remained nearly stable with China (-€72.5 bn compared with -€73.1 bn) and Russia (-€50.6 bn compared with -€50.5 bn).

Concerning the total trade of Member States, the largest surplus was observed in Germany (+€124.5 bn in January-July 2014), followed by the Netherlands (+€34.6 bn), Italy (+€24.3 bn), Ireland (+€20.1 bn) and the Czech Republic (+€10.0 bn). The United Kingdom (-€76.2 bn) registered the largest deficit, followed by France (-€43.2 bn), Spain (-€13.6 bn) and Greece (-€12.4 bn).


Source: Eurostat

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