January 2008 Euro area external trade deficit 10.7 bn euro 30.7 bn euro deficit for EU27

The first estimate for the euro area1 (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%.

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 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). 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).

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