The first estimate for the euro area (EA17) trade in goods balance with the rest of the world in December 2012 gave a 11.7 bn euro surplus, compared with +8.0 bn in December 2011. The November 2012 balance was +13.0 bn, compared with +4.9 bn in November 2011. In December 2012 compared with November 2012, seasonally adjusted exports fell by 1.8% and imports by 3.0%. These data are released by Eurostat, the statistical office of the European Union.

The first estimate for the December 2012 extra-EU27 trade in goods balance was a 0.7 bn euro deficit, compared with -0.2 bn in December 2011. The November 20122 balance was -1.9 bn, compared with -9.3 bn in November 2011. In December 2012 compared with November 2012, seasonally adjusted exports decreased by 1.9% and imports by 1.6%.

During 2012, euro area trade in goods recorded a surplus of 81.8 bn euro, compared with -15.7 bn in 2011. The EU27 recorded a deficit of 104.6 bn in 2012, compared with -162.7 bn in 2011.

EU27 detailed results for January to November 2012

The EU27 deficit for energy increased (-388.6 bn euro in January-November 2012 compared with -354.6 bn in January-November 2011), as did the surplus for manufactured goods (+330.8 bn compared with +224.9 bn).

EU27 exports to most of its major partners grew in January-November 2012 compared with January-November 2011, except for India (-5%) and Switzerland (-3%). The most notable increases were recorded for exports to South Korea (+17%), Russia and Japan (both +15%), the USA (+13%) and Brazil (+11%). As regards EU27 imports, the pattern was mixed. The largest increases were recorded for imports from Switzerland (+14%), Norway (+9%) and the USA (+8%), and the largest falls with India and Japan (both -7%).

The EU27 trade surplus increased with the USA (+80.2 bn euro in January-November 2012 compared with +64.6 bn in January-November 2011) and Turkey (+25.3 bn compared with +22.9 bn), but fell with Switzerland (+25.8 bn compared with +41.9 bn). The EU27 trade deficit declined with China (-135.3 bn compared with -146.9 bn), Russia (-81.2 bn compared with -83.3 bn) and Japan (-8.2 bn compared with -19.1 bn), but rose with Norway (-46.7 bn compared with -42.1 bn).

Concerning the total trade of Member States, the largest surplus was observed in Germany (+174.6 bn euro in January-November 2012), followed by the Netherlands (+46.0 bn), Ireland (+39.9 bn) and the Czech Republic (+12.1 bn). The United Kingdom (-152.9 bn) registered the largest deficit, followed by France (-75.2 bn), Spain (-30.0 bn) and Greece (-19.0 bn).