Euro area external trade deficit 10.7 bn euro

The first estimate for the euro area (EA15) trade balance with the rest of the world in January 2008 gave a 10,7 bn euro deficit, compared with -7,3 bn in January 2007, the December 2007
balance was -4,1 bn, compared with 2,3 bn in December 2006, in January 2008 compared with December 2007, seasonally adjusted exports and imports rose by 7,4%.

The first estimate for the January 2008 extra-EU271 trade balance was a deficit of 30.7 bn euro, compared with -26.0 bn in January 2007. In December 20072, the balance was -17.6 bn, compared
with -10.0 bn in December 2006. In January 2008 compared with December 2007, seasonally adjusted exports rose by 6.2% and imports by 4.9%.

These data are released by Eurostat, the Statistical Office of the European Communities.

EU27 2007 detailed results
The EU27 energy deficit decreased (-269.5 bn euro in 2007 compared with -280.8 bn in 2006), while the surplus rose for machinery and vehicles ( 129.9 bn compared with 101.5 bn).

EU27 trade with most of its major partners grew, with the exception of exports to the USA (-3% in 2007 compared with 2006) and Japan (-2%), and imports from Norway and South Korea (both -3%).
The largest increases were recorded for exports to Russia ( 23%), India ( 21%), Brazil ( 20%), Norway ( 13%) and China ( 12%), and for imports from Brazil ( 20%), China ( 19%), India ( 16%) and
Turkey ( 12%).
The EU27 trade surplus fell with the USA ( 80.4 bn euro in 2007 compared with 93.8 bn in 2006) and remained nearly stable with Switzerland ( 15.9 bn compared with 16.1 bn). The EU27 trade
deficit grew with China (-159.2 bn compared with -131.0 bn), Japan (-34.2 bn compared with -32.5 bn) and Brazil (-11.2 bn compared with -9.4 bn), but decreased with Russia (-54.3 bn compared
with -68.6 bn), Norway (-33.3 bn compared with -40.7 bn) and South Korea (-14.6 bn compared with -17.9 bn).

Concerning the total trade of Member States, the largest surplus was observed in Germany ( 195.4 bn euro in 2007), followed by the Netherlands ( 43.5 bn), Ireland ( 28.5 bn), Sweden ( 13.0 bn)
and Belgium ( 12.9 bn). The United Kingdom (-132.6 bn) registered the largest deficit, followed by Spain (-96.0 bn), France (-44.6 bn), Greece (-37.9 bn), Romania (-21.6 bn), Portugal (-19.4
bn) and Poland (-17.4 bn).