6-16072012-BP-EN

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					                                                                             108/2012 - 16 July 2012


May 2012
Euro area international trade in goods surplus of
6.9 bn euro
3.8 bn euro deficit for EU27


The first estimate for the euro area1 (EA17) trade in goods balance with the rest of the world in May 2012 gave a
6.9 bn euro surplus, compared with -1.2 bn in May 2011. The April 20122 balance was +3.7 bn, compared with -4.5
bn in April 2011. In May 2012 compared with April 2012, seasonally adjusted exports rose by 0.3% while imports
fell by 0.9%.
The first estimate for the May 2012 extra-EU271 trade in goods balance was a 3.8 bn euro deficit, compared with
-14.5 bn in May 2011. In April 20122 the balance was -12.6 bn, compared with -17.1 bn in April 2011. In May 2012
compared with April 2012, seasonally adjusted exports rose by 1.7% while imports fell by 1.7%.


These data3 are released by Eurostat, the statistical office of the European Union.



EU27 detailed results for January to April 2012
The EU27 deficit for energy increased (-144.8 bn euro in January-April 2012 compared with -125.9 bn in January-
April 2011), as did the surplus for manufactured goods (+103.0 bn compared with +68.3 bn).
EU27 exports to most of its major partners grew in January-April 2012 compared with January-April 2011, except
for Turkey (-5%) and India (-1%). The most notable increases were recorded for exports to Russia (+19%) and
Brazil (+18%). As regards EU27 imports, the pattern was mixed. The largest increases were recorded for imports
from Norway (+13%), the USA (+8%) and Russia (+7%), and the largest falls with India (-10%) and Japan (-8%).

The EU27 trade surplus increased with the USA (+23.8 bn euro in January-April 2012 compared with +21.1 bn in
January-April 2011), but fell with Switzerland (+14.6 bn compared with +15.7 bn) and Turkey (+7.7 bn compared
with +8.4 bn). The EU27 trade deficit fell with China (-44.5 bn compared with -50.1 bn), Russia (-35.0 bn
compared with -36.1 bn) and Japan (-4.5 bn compared with -8.4 bn), but increased with Norway (-20.6 bn
compared with -17.0 bn).
Concerning the total trade of Member States, the largest surplus was observed in Germany (+59.3 bn euro in
January-April 2012), followed by the Netherlands (+16.2 bn) and Ireland (+13.4 bn). The United Kingdom
(-51.8 bn) registered the largest deficit, followed by France (-29.0 bn) and Spain (-15.3 bn).
EA17 trade - non seasonally adjusted data                                                                               bn euro
              Flows             May 11 May 12 Growth          Apr 11       Apr 12     Growth Jan-May 11 Jan-May 12 Growth
Extra-EA17 exports                149.3      157.6      6%      139.1       147.3 r       6%         706.1         758.6        7%
Extra-EA17 imports                150.4      150.7      0%      143.7       143.6 r       0% r       730.7         747.6        2%
Extra-EA17 trade balance            -1.2       6.9                -4.5        3.7 r                  -24.5          11.0
Intra-EA17 dispatches4            142.6      138.1     -3%      133.0       130.6 r      -2% r       687.9         686.6        0%



EU27 trade - non seasonally adjusted data                                                                               bn euro
             Flows            May 11       May 12    Growth    Apr 11      Apr 12      Growth Jan-May 11 Jan-May 12 Growth
Extra-EU27 exports               131.9      144.3       9%      122.5       131.6 r       7%         629.1         680.8        8%
Extra-EU27 imports               146.4      148.1       1%      139.6       144.2 r       3%         710.6         741.4        4%
Extra-EU27 trade balance         -14.5        -3.8               -17.1 r    -12.6 r                   -81.5         -60.6
Intra-EU27 dispatches4           245.1      240.6       -2%     228.3       226.3 r       -1%      1 181.6       1 190.8        1%
r: revised




1. The euro area (EA17) consists of Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Luxembourg,
   Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.
   The EU27 includes Belgium, Bulgaria, the Czech Republic, Denmark, Germany, Estonia, Ireland, Greece, Spain, France,
   Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania,
   Slovenia, Slovakia, Finland, Sweden and the United Kingdom.
2. Compared with News Release 92/2012 of 15 June 2012, the trade balance for April 2012 has been revised from +5.2 bn
   euro to +3.7 bn for the EA17 and from -12.0 bn to -12.6 bn for the EU27.
3. This News Release is based on data available on 11 July 2012. 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.
4. 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 area, which
   includes some intra-EU trade.




               Issued by: Eurostat Press Office                                     For further information on data:

                         Tim ALLEN                                                        Gilberto GAMBINI
                   Tel: +352-4301-35 108                                                Tel: +352-4301-35 806
             eurostat-pressoffice@ec.europa.eu                                        estat-etfree@ec.europa.eu


                          Eurostat news releases on the internet: http://ec.europa.eu/eurostat
             Selected Principal European Economic Indicators: http://ec.europa.eu/eurostat/euroindicators
EA17 trade - previous 6 months - non seasonally adjusted data                                                              bn euro
                Flows                     Oct 11          Nov 11          Dec 11        Jan 12           Feb 12            Mar 12
Extra-EA17 exports                         147.9 r          155.8 r         147.9         138.8 r          149.8            165.0 r
Extra-EA17 imports                         147.9            150.2           139.1 r       147.5 r          147.9 r          157.9 r
Extra-EA17 trade balance                     0.0              5.5             8.8 r           -8.7           1.9 r            7.2 r
Intra-EA17 dispatches                      134.9            140.5 r         124.9 r       131.2 r          136.6 r          150.2 r


EU27 trade - previous 6 months - non seasonally adjusted data                                                              bn euro
                Flows                     Oct 11          Nov 11          Dec 11        Jan 12           Feb 12            Mar 12
Extra-EU27 exports                         135.3            138.7           137.7 r       124.0            133.3            147.6
Extra-EU27 imports                         145.9            147.5           137.4 r       148.6 r          145.6            154.9
Extra-EU27 trade balance                    -10.6            -8.8             0.3         -24.5            -12.3              -7.3
Intra-EU27 dispatches                      237.5 r          246.1 r         215.5 r       228.3 r          236.4 r          259.2
r: revised




Main products - EA17 - non seasonally adjusted data                                                                        bn euro
                                      EA17 exports                             EA17 imports                    Trade balance
                             Jan-Apr 11 Jan-Apr 12        Growth      Jan-Apr 11 Jan-Apr 12     Growth     Jan-Apr 11 Jan-Apr 12
Primary goods:                     84.4            94.1       12%          202.4      223.9          11%          -118.0      -129.8
              Food & drink         38.3            40.4        5%           34.1       35.1          3%              4.2             5.3
             Raw materials         15.0            16.4        9%           29.9       28.4          -5%           -14.9        -12.1
                   Energy          31.1            37.4       20%          138.4      160.4          16%          -107.3      -123.0
Manufactured goods:               457.8        489.5           7%          369.0      362.5          -2%           88.8        126.9
                Chemicals          95.7        101.3           6%           59.8       61.7          3%            35.8         39.5
   Machinery & vehicles           226.8        245.7           8%          169.2      166.5          -2%           57.7         79.2
   Other manuf’d goods            135.3        142.5           5%          140.0      134.3          -4%            -4.7             8.2
Other                              14.7            17.4       18%            8.9       10.5          18%             5.9             7.0
Total                             556.9        601.0           8%          580.3      596.9          3%            -23.4             4.1


Main products – EU27 - non seasonally adjusted data                                                                        bn euro
                                      EU27 exports                             EU27 imports                    Trade balance
                             Jan-Apr 11 Jan-Apr 12        Growth      Jan-Apr 11 Jan-Apr 12     Growth     Jan-Apr 11 Jan-Apr 12
Primary goods:                     75.9            87.1       15%          218.1      243.0          11%          -142.2      -156.0
              Food & drink         27.9            30.3        9%           30.2       30.5          1%             -2.2            -0.2
             Raw materials         14.7            16.5       12%           28.7       27.4          -4%           -14.0        -11.0
                   Energy          33.3            40.3       21%          159.2      185.1          16%          -125.9      -144.8
Manufactured goods:               400.3        432.9           8%          332.0      329.9          -1%           68.3        103.0
                Chemicals          83.2            88.9        7%           50.8       53.2          5%            32.4         35.7
   Machinery & vehicles           204.8        223.6           9%          148.3      149.1          1%            56.5         74.5
   Other manuf’d goods            112.3        120.4           7%          133.0      127.6          -4%           -20.6            -7.2
Other                              21.0            16.6      -21%           14.1       20.3          44%             6.9            -3.8
Total                             497.2        536.5           8%          564.2      593.3          5%            -67.0        -56.8
Main trading partners - EA17 - non seasonally adjusted data                                                 bn euro
                          EA17 exports to                      EA17 imports from                   Trade balance
                 Jan-Apr 11 Jan-Apr 12        Growth    Jan-Apr 11 Jan-Apr 12        Growth    Jan-Apr 11 Jan-Apr 12
United Kingdom         70.1           75.3         7%         54.4           56.3         3%         15.7           19.0
United States          64.8           71.3        10%         48.3           50.7         5%         16.5           20.6
China                  36.6           40.0         9%         69.9           68.1        -3%        -33.3          -28.1
Russia                 23.5           27.9        19%         48.6           49.9         3%        -25.0          -22.0
Switzerland            34.7           39.1        12%         25.3           26.1         3%          9.4           12.9
Poland                 29.8           29.4        -1%         23.1           23.5         2%          6.7            5.9
Czech Republic         21.1           21.9         4%         24.8           25.8         4%         -3.7           -3.9
Sweden                 20.4           20.2        -1%         17.8           17.5        -2%          2.6            2.8
Japan                  12.4           14.0        13%         18.6           16.7       -10%         -6.2           -2.7
Turkey                 19.5           18.7        -4%         12.2           11.4        -7%          7.2            7.3

Main trading partners – EU27 - non seasonally adjusted data                                                 bn euro
                          EU27 exports to                      EU27 imports from                   Trade balance
                 Jan-Apr 11 Jan-Apr 12        Growth    Jan-Apr 11 Jan-Apr 12        Growth    Jan-Apr 11 Jan-Apr 12
United States          85.8           93.7         9%         64.7           69.9         8%         21.1           23.8
China                  43.0           47.2        10%         93.1           91.7        -1%        -50.1          -44.5
Russia                 31.9           38.0        19%         68.0           73.0         7%        -36.1          -35.0
Switzerland            45.5           45.9         1%         29.7           31.3         5%         15.7           14.6
Norway                 15.3           15.8         3%         32.3           36.4        13%        -17.0          -20.6
Turkey                 25.0           23.7        -5%         16.6           16.0        -4%          8.4            7.7
Japan                  15.6           17.5        13%         24.0           22.0        -8%         -8.4           -4.5
India                  13.1           13.0        -1%         13.8           12.4       -10%         -0.7            0.6
Brazil                 10.9           12.9        18%         12.2           12.1        -1%         -1.3            0.8
South Korea            10.4           11.9        15%         12.3           12.1        -2%         -1.9           -0.1



Member States’ total trade (intra-EU + extra-EU) - non seasonally adjusted data                             bn euro
                              Total exports                          Total imports                 Trade balance
                 Jan-Apr 11 Jan-Apr 12        Growth    Jan-Apr 11 Jan-Apr 12        Growth    Jan-Apr 11 Jan-Apr 12
Belgium               115.5          118.2         2%        112.1         112.8          1%          3.4            5.4
Bulgaria                6.4            6.3        -2%          7.2           7.9         10%         -0.8           -1.6
Czech Republic         38.2           41.2         8%         35.5          36.4          3%          2.7            4.7
Denmark                26.8           27.0         1%         22.8          24.1          6%          4.0            2.9
Germany               344.4          362.3         5%        293.1         303.0          3%         51.3           59.3
Estonia                 3.8            4.0         5%          4.1           4.4          6%         -0.3           -0.3
Ireland                30.8           29.9        -3%         17.5          16.5         -5%         13.3           13.4
Greece                  6.7            7.5        13%         15.5          13.5        -13%         -8.8           -6.0
Spain                  73.8           73.8         0%         90.7          89.0         -2%        -16.9          -15.3
France                142.3          149.0         5%        172.8         178.0          3%        -30.5          -29.0
Italy                 121.2          125.7         4%        137.1         129.3         -6%        -15.9           -3.6
Cyprus                  0.4            0.4         1%          2.1           1.9         -9%         -1.6           -1.4
Latvia                  2.8            3.2        16%          3.3           4.0         20%         -0.6           -0.8
Lithuania               6.1            6.9        14%          7.1           7.9         12%         -1.0           -1.0
Luxembourg              5.4            5.5         2%          6.5           7.0          8%         -1.2           -1.5
Hungary                26.8           26.4        -2%         24.2          24.2          0%          2.5            2.1
Malta                   1.0            1.1         6%          1.5           1.4         -7%         -0.5           -0.3
Netherlands           156.7          167.9         7%        140.7         151.6          8%         16.0           16.2
Austria                41.5           42.5         2%         44.7          45.4          2%         -3.1           -2.8
Poland                 44.2           45.9         4%         49.0          49.9          2%         -4.8           -3.9
Portugal               13.7           14.9         9%         19.6          18.6         -5%         -5.9           -3.7
Romania                14.5           14.5         0%         17.0          17.1          1%         -2.5           -2.6
Slovenia                8.2            8.3         1%          8.3           8.4          1%         -0.2           -0.1
Slovakia               18.2           19.9        10%         17.9          18.8          5%          0.3            1.2
Finland                18.7           18.7         0%         19.9          19.9          0%         -1.2           -1.2
Sweden                 45.2           45.2         0%         42.4          42.2         -1%          2.8            3.0
United Kingdom        120.6          120.5         0%        153.9         172.3         12%        -33.3          -51.8
Annex - Seasonally adjusted data
Seasonally adjusted series have been calculated using a harmonised methodology. The seasonally adjusted
series give a complementary view of the monthly developments in trade. Seasonally adjusted figures may not
match those published by Member States due to differences in the raw data3, in the choice of seasonal adjustment
model and to the use of series in national currency or in euro.

EA17 trade - seasonally adjusted data                                                                                         bn euro
                                                                                                     Growth:
            Flows          Dec 11 Jan 12 Feb 12 Mar 12 Apr 12 May 12
                                                                                     Jan/Dec Feb/Jan Mar/Feb Apr/Mar May/Apr
Extra-EA17 exports         152.5      153.3      153.7      155.3    153.1     153.5   0.5%    0.3%    1.0%   -1.4%    0.3%
Extra-EA17 imports         145.1      148.6      151.7      150.9    148.6     147.2      2.4%     2.1%      -0.5%    -1.5%     -0.9%
Extra-EA17 trade balance     7.4        4.7           2.0     4.4      4.5          6.3
Intra-EA17 dispatches      134.9      134.4      135.3      135.8    133.7     134.5      -0.3%    0.6%      0.4%     -1.6%      0.7%


EU27 trade - seasonally adjusted data                                                                                         bn euro
                                                                                     Growth:
            Flows          Dec 11 Jan 12 Feb 12 Mar 12 Apr 12 May 12
                                                                     Jan/Dec Feb/Jan Mar/Feb Apr/Mar May/Apr
Extra-EU27 exports          137.7 138.8 137.7 141.3 138.3 140.7        0.8%    -0.8%   2.6%   -2.1%    1.7%
Extra-EU27 imports         142.3      147.4      150.8      149.9    148.6     146.0      3.6%     2.3%      -0.5%    -0.9%     -1.7%
Extra-EU27 trade balance     -4.6       -8.6     -13.1        -8.7   -10.3      -5.3
Intra-EU27 dispatches      235.1      235.8      236.2      236.3    233.0     234.1      0.3%     0.2%      0.0%     -1.4%      0.4%


Contribution of EU27 Member States to extra-EU27 trade - seasonally adjusted data                                            bn euro
                                    Total exports                               Total imports                    Trade balance
                        Apr 12         May 12           Growth       Apr 12           May 12      Growth       Apr 12         May 12
EU27                       138.3           140.7             1.7%        148.6            146.0      -1.7%           -10.3        -5.3
Belgium                       9.2               8.5          -7.3%            9.3           8.9      -4.2%            -0.1        -0.4
Bulgaria                      0.6               0.8         21.9%             1.0           1.0      -0.3%            -0.3        -0.2
Czech Republic                2.0               1.9          -4.0%            2.5           2.4      -3.0%            -0.5        -0.5
Denmark                       2.6               2.7          3.8%             1.8           1.8      2.5%             0.8          0.9
Germany                     38.1               38.3          0.6%            27.6          27.8      0.8%            10.5         10.5
Estonia                       0.4               0.3         -17.1%            0.2           0.3     15.1%             0.1          0.0
Ireland                       2.8               2.9          3.1%             1.2           1.3      6.2%             1.6          1.6
Greece                        1.1               1.0          -6.2%            1.7           1.5      -8.9%            -0.6        -0.5
Spain                         6.5               6.7          2.0%            10.1           9.1      -9.3%            -3.5        -2.5
France                      14.8               14.7          -0.7%           14.5          13.2      -9.0%            0.3          1.5
Italy                       14.4               15.3          6.2%            15.1          15.7      4.6%             -0.7        -0.5
Cyprus                        0.1               0.0         -26.1%            0.2           0.2      -8.1%            -0.1        -0.1
Latvia                        0.3               0.3         12.0%             0.2           0.2      0.1%             0.0          0.1
Lithuania                     0.7               0.7          -8.6%            0.8           0.4     -45.9%            -0.1         0.2
Luxembourg                    0.2               0.2          6.1%             0.4           0.5     21.4%             -0.2        -0.2
Hungary                       1.6               1.7          8.5%             1.8           1.9      4.6%             -0.2        -0.2
Malta                         0.2               0.2         23.7%             0.1           0.1     76.3%             0.1          0.1
Netherlands                 10.4               10.5          1.4%            20.9          21.3      1.9%            -10.5       -10.7
Austria                       3.3               3.3          -1.3%            2.7           2.6      -3.9%            0.6          0.6
Poland                        2.7               2.7          1.6%             4.0           4.2      4.4%             -1.3        -1.5
Portugal                      1.1               1.1          2.9%             1.2           1.4     15.0%             -0.1        -0.2
Romania                       1.2               1.1          -4.5%            1.3           1.3      0.1%             -0.1        -0.2
Slovenia                      0.7               0.6          -0.4%            0.7           0.7      -0.9%            0.0          0.0
Slovakia                      0.9               0.9          8.1%             1.3           1.2      -2.6%            -0.4        -0.3
Finland                       2.1               2.1          2.0%             1.9           1.9      -3.5%            0.2          0.3
Sweden                        4.6               4.8          4.3%             3.5           3.4      -3.2%            1.1          1.4
United Kingdom              15.9               17.0          7.4%            22.7          21.7      -4.6%            -6.8        -4.6
                  -35
                        -15
                              5
                                  25
                                       45
                                            65
                                                 85
                                                      105
                                                            125
                                                                  145
                                                                                                              -35
                                                                                                                    -15
                                                                                                                          5
                                                                                                                              25
                                                                                                                                   45
                                                                                                                                        65
                                                                                                                                             85
                                                                                                                                                  105
                                                                                                                                                        125
                                                                                                                                                              145
          01-06                                                                                       01-06
          04-06                                                                                       04-06
                                                                                                                                                                    bn euro



                                                                                                      07-06




                                                                        bn euro
          07-06
          10-06                                                                                       10-06
          01-07                                                                                       01-07
          04-07                                                                                       04-07
          07-07                                                                                       07-07
          10-07                                                                                       10-07
          01-08                                                                                       01-08




                                                                                            Balance
          04-08                                                                                       04-08




Balance
          07-08                                                                                       07-08
          10-08                                                                                       10-08

          01-09                                                                                       01-09




                                       `
                                                                                                      04-09




                                                                                            Imports
          04-09
                                                                                                      07-09




Imports
          07-09
                                                                                                      10-09
          10-09
                                                                                                                                                                         Extra-EA17 trade




                                                                         Extra-EU27 trade
          01-10                                                                                       01-10
                                                                                                                                                                                            Seasonally adjusted data




                                                                                                      04-10
          04-10
                                                                                            Exports
                                                                                                      07-10
          07-10




Exports
                                                                                                      10-10
          10-10
                                                                                                      01-11
          01-11
                                                                                                      04-11
          04-11
                                                                                                      07-11
          07-11
                                                                                                      10-11
          10-11
                                                                                                      01-12
          01-12
                                                                                                      04-12
          04-12

				
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