Euro area external trade surplus 2.3 bn euro

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The first estimate for the euro area (EA15) trade balance with the rest of the world in April 2008 gave a 2,3 bn euro surplus, compared with +2,0 bn in April 2007.

The March 20082 balance was -1.5 bn, compared with +7.5 bn in March 2007. In April 2008 compared with March 2008, seasonally adjusted exports rose by 6.2% and imports by 3.6%.

The first estimate for the April 2008 extra-EU271 trade balance was a deficit of 15.4 bn euro, compared with -12.9 bn in April 2007. In March 20082, the balance was -20.8 bn, compared with -10.5 bn in March 2007. In April 2008 compared with March 2008, seasonally adjusted exports rose by 5.1% and imports by 1.4%.
These data3 are released by Eurostat, the Statistical Office of the European Communities.

EU27 January-March 2008 detailed results
The EU27 energy deficit increased (-88.0 bn euro in January-March 2008 compared with -61.1 bn in January-March 2007), while the surplus rose for machinery and vehicles (+34.0 bn compared with +24.0 bn).
EU27 trade with most of its major partners grew, with the exception of exports to Japan (-5% in January-March 2008 compared with January-March 2007) and the USA (-4%), and imports from Japan (-2%) and the USA (0%). The largest increases were recorded for exports to Russia (+25%) and Brazil (+20%), and for imports from Russia (+28%) and Norway (+22%).
The EU27 trade surplus fell with the USA (+15.8 bn in January-March 2008 compared with +18.4 bn in January-March 2007) and Switzerland (+3.2 bn compared with +3.7 bn). The EU27 trade deficit grew with Russia (-18.8 bn compared with -14.2 bn) and Norway (-12.1 bn compared with -8.6 bn), but decreased with China (-38.4 bn compared with -39.7 bn) and remained stable with Japan (-8.8 bn compared with -8.7 bn).
Concerning the total trade of Member States, the largest surplus was observed in Germany (+50.4 bn euro in January-March 2008), followed by the Netherlands (+10.9 bn). The United Kingdom (-34.0 bn) registered the largest deficit, followed by Spain (-26.7 bn), France (-14.5 bn) and Greece (-9.0 bn).

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