EU Trade Balance: Germany had €140.3bn trade
surplus in 2010 followed by Ireland at 40.3bn; United Kingdom had largest
deficit at -€105.4bn.
Eurostat, the EU statistics office
today reported that the first estimate for the Eurozone
(EA16) trade balance with the rest of the world in th month of December 2010 gave a €0.5bn
deficit, compared with +€3.2bn in December 2009. The November 2010 balance was
-€1.5bn, compared with +€2.7bn in November 2009. In December 2010 compared with
November 2010, seasonally adjusted exports fell by 0.4% and imports by 1.1%.
The first estimate for the December 2010
trade balance was a €10.5bn deficit, compared with -€2.9bn in December
2009. In November 2010 the balance was -€15.4bn, compared with -€7.7bn in
November 2009. In December 2010 compared with November 2010, seasonally adjusted
exports fell by 0.3% and imports by 0.4%.
During 2010, Eurozone trade recorded a surplus of €0.7bn ,
compared with +€16.6bn in 2009. The EU27 recorded a deficit of €143.3bn in 2010,
compared with -€108.1bn in 2009.
EU27 detailed results for January to November 2010
The EU27 deficit increased for energy (-€267.1bn in
January-November 2010 compared with -€218.4bn in January-November 2009), while
the surplus for manufactured goods rose (+€156.7bn compared with +€142.5bn).
EU27 trade with all its major partners grew in January-November
2010 compared with January-November 2009. The most notable increases were
recorded for exports to Brazil (+48%), China and Turkey (both +38%), and for
imports from Russia (+33%), China (+31%) and India (+30%).
The EU27 trade surplus increased with the US (+€67.0bn
in January-November 2010 compared with +€42.6bn in January-November 2009),
Switzerland (+€18.5bn compared with +€13.5bn) and Turkey (+€16.8bn compared with
+€6.8bn). The EU27 trade deficit increased with China (-€154.8bn compared with
-€121.7bn), Russia (-€61.2bn compared with -€45.9bn) and Norway (-€33.0bn
compared with -€28.6bn). The deficit remained nearly stable with Japan (-€19.8bn
compared with -€19.4bn) and South Korea (-€10.4bn compared with -€10.3).
Concerning the total trade of member
countries, the largest surplus was observed in Germany (+€140.3bn in January-November 2010),
followed by Ireland (+€40.3bn), the Netherlands (+€38.1bn) and Belgium
(+€16.5bn). The United Kingdom (-€105.4bn) registered the largest deficit,
followed by France (-€57.4bn), Spain (-€46.5bn), Italy (-€24.5bn), Greece
(-€21.0bn), Portugal (-€18.1bn) and Poland (-€11.9bn).
Foreign-owned firms, mainly
are responsible for about 90% of Ireland's tradeable goods and services exports.