According to the data published by Eurostat and the National Institute of Statistics, the first estimate for the euro area trade in goods balance with the rest of the world in August 2012 gave a EUR 6.6 billion surplus as compared with EUR 5.7 billion in August 2011.

The July 2012 balance was EUR 14.7 billion as compared with EUR 2.1 billion in July 2011. In August 2012 as compared with July 2012, seasonally adjusted exports rose by 3.7% and imports by 2.1%.

The first estimate for the August 2012 extra EU 27 trade in goods balance was a EUR 12.6 billion deficit as compared with EUR 22.1 billion in August 2011. The July 2012 balance was EUR 2.7 billion as compared with EUR 10.9 billion in July 2011. In August 2012 as compared with July 2012, seasonally adjusted exports increased by 2.9% and imports by 3.3%.

EU 27 detailed results for January to July 2012
The EU27 deficit for energy increased (EUR 239.7 billion in January to July 2012 period as compared with EUR 220.0 billion in January to July 2011 period), as did the surplus for manufactured goods (EUR 204.6 billion as compared with EUR 137.8 billion).

EU 27 exports to most of its major partners grew in January to July 2012 period as compared with January to July 2011 period, except with India (-5%) and Turkey (-1%). The most notable increases were recorded for exports to South Korea (+19%), Russia (+18%) and Japan (+17%). As regards EU27 imports, the pattern was mixed. The largest increases were recorded for imports from the USA (+11%) and Norway (+10%), and the largest falls with India (-9%) and Japan (-5%).

The EU 27 trade surplus increased with the USA (EUR 49billion in January to July 2012 period as compared with +41.0 bn in January to July 2011), fell with Switzerland (EUR 23.8 billion compared with EUR 24.3 billion) and remained unchanged with Turkey (EUR 15.4 billion). The EU 27 trade deficit fell with China (EUR 80.5 billion compared with EUR 87.3 billion), Russia (EUR 52.0 billion compared with EUR 59.3 billion) and Japan (EUR 6.2 billion compared with EUR 12.9 billion), but increased with Norway (EUR 31.7 billion compared with EUR 28.2 billion).

Concerning the total trade of Member States, the largest surplus was observed in Germany (EUR 109.1 billion in January to July 2012), followed by the Netherlands (EUR 29.1 billion) and Ireland (EUR 24.8 billion). The United Kingdom (EUR 85.1 billion) registered the largest deficit, followed by France (EUR 48.9 billion) and Spain (EUR 20.5 billion).

Source - Eurostat

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