Euro Area Registers Healthy Trade Surplus in November, as EU27 Decline Eases
The euro area saw an international trade in goods surplus of 13.7 billion euros ($18.3 billion) in November, compared with a 4.9 billion-euro surplus last November, Eurostat said Tuesday. The euro area encompasses Belgium, Germany, Estonia, Ireland, Greece, Spain, France,…
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Italy, Cyprus, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland. The first estimate for the November 2012 extra-EU27 trade in goods balance, however, was a 1.7-billion euro deficit, compared with about a 9 billion-euro deficit in November 2011, Eurostat said. The EU27 includes Belgium, Bulgaria, the Czech Republic, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland, Sweden and the U.K. From January to October 2012, the EU27 deficit for energy rose from 319.5 billion euros last year to 347 billion this year, the report said. EU27 exports to most of its major partners grew this year except for India and Switzerland, it said. The largest increases were for exports to South Korea, Russia, Japan, the U.S. and Brazil, it said. But the import pattern was mixed, with the largest increases recorded for imports from Switzerland, the U.S. and Norway, and the biggest drops with India and Japan, it said. The EU27 trade surplus with the U.S. increased, while its trade deficit with China declined. Germany had the largest trade surplus among EU countries, the U.K. the greatest deficit for January-August, it said.