September 2004 Euro-zone external trade surplus 3.1 bn euro 7.6 bn euro deficit for EU25

Transcription

1 137/ November 2004 September 2004 Euro-zone external trade surplus deficit for EU25 The first estimate for euro-zone 1 trade with the rest of the world in September 2004 was a 3.1 billion euro surplus, compared with +8.6 bn in September The August balance was +3.0 bn, compared with +7.1 bn in August In September 2004, exports, seasonally adjusted, remained nearly stable (+0.1%) compared to August 2004, while imports fell by 1.8%. The first estimate for September 2004 extra-eu25 3 trade was a 7.6 deficit, compared with -3.9 bn in September In August the balance was -7.5 bn, compared with -2.7 bn in August In September 2004, exports, seasonally adjusted, remained nearly stable (-0.2%) compared to August 2004, while imports fell by 1.3%. These data are released today by Eurostat, the Statistical Office of the European Communities. EU25 January-August 2004 detailed results The energy deficit grew (-91.8 in January-August 2004 compared to bn in January-August 2003), while the surplus for machinery and vehicles rose strongly (+55.6 bn compared to bn). The surplus in the chemicals sector also increased (+44.4 bn compared to bn). Apart from imports from the USA which fell (-1% comparing January-August 2004 with January-August 2003), and exports to Canada which were stable, EU25 trade flows with its major partners grew. The most notable increases were for imports from China (+21%), Turkey (+18%), Brazil (+17%), South Korea (+16%) and Russia (+13%) and for exports to Turkey (+35%), Russia (+21%) and China (+19%). EU25 trade was characterised by an increase in the EU25 surplus with the USA (+48.7 in January-August 2004 compared to bn in January-August 2003), Switzerland (+8.9 bn compared to +8.1 bn) and Turkey (+5.2 bn compared to +1.6 bn). The EU25 trade deficit increased with China ( bn compared to bn), Russia (-21.9 bn compared to bn) and Norway (-16.5 bn compared to bn), but decreased with Japan (-20.7 bn compared to bn). Concerning the total trade of Member States, the largest surplus was observed in Germany ( in January-August 2004 ), followed by Ireland ( bn), the Netherlands ( bn), Sweden ( bn) and Belgium (+11.9 bn). The United Kingdom registered the largest deficit (-63.9 bn), followed by Spain (-34.6 bn), Greece (-19.6 bn), Portugal (-9.6 bn) and Poland (-7.9 bn).

2 Euro-zone trade - non seasonally adjusted data Flows Sep 04 Sep 03 Aug 04 Aug 03 Jan-Sep 04 Jan-Sep 03 Extra-eurozone exports % 85.7 r % % Extra-eurozone imports % 82.7 r 69.3 r 19% % Extra-eurozone trade balance r Intra-eurozone dispatches % % % EU25 trade - non seasonally adjusted data Flows Sep 04 Sep 03 Aug 04 Aug 03 Jan-Sep 04 Jan-Sep 03 Extra-EU25 exports % 73.9 r 66.0 r 12% % Extra-EU25 imports % 81.5 r 68.7 r 19% % Extra-EU25 trade balance r -2.7 r Intra-EU25 dispatches % r % r % r: Revised 1. Euro-zone: Belgium, Germany, Greece, Spain, France, Ireland, Italy, Luxembourg, Netherlands, Austria, Portugal and Finland. 2. The first estimates for August 2004 were +3.0 for the euro-zone and -7.8 bn for the EU25. See News Release 126/2004 issued on 21 October Data for the 10 new Member States came from Customs declarations up to 30 April Since 1 May 2004, their intra- EU data stem from the Intrastat system. 4. This News Release is based on data available on 12 November These are provisional figures based on information provided by Member States. They are subject to frequent revision for up to two years after the month in question. Furthermore, national concepts may differ from the harmonised methodology used by Eurostat, leading to differences between figures in this release and those published nationally, both for raw data and for seasonally adjusted series. 5. June extra-eu, July and August data for Malta as well as August intra-eu data for Denmark are estimated by Eurostat. September intra -EU data for Spain, Luxembourg, Hungary, Slovenia and Finland are based on data from national databases. September intra -EU data for Denmark, Ireland, Cyprus and Malta as well as September extra -EU data for Denmark, Cyprus and Malta are estimated by Eurostat. 6. Since the introduction of Intrastat for intra-eu trade on 1 January 1993, the value of dispatches has been consistently higher than that of arrivals. In theory, as dispatches are declared FOB and arrivals CIF, the value of arrivals should be slightly higher than that of dispatches. Eurostat uses dispatches as the more reliable measure of total intra-eu trade as, at aggregated levels, total dispatches has better coverage than total arrivals. Due to this divergence in intra-eu trade, and to the difficulties of interpreting figures in absolute terms at the level of individual Member States, trade balances for individual Member States must be interpreted with caution. The same caution applies to the trade balance of the eurozone, which includes some intra-eu trade. 7. The next News Release including revised data for September 2004 and first estimates for October 2004 will be issued on 21 December Issued by: Eurostat Press Office Philippe BAUTIER BECH Building L-2920 LUXEMBOURG Tel: Fax: eurostat-pressoffice@cec.eu.int For further information on data: Anne BERTHOMIEU Tel: Karo NUORTILA Tel: Fax: estat-etfree@cec.eu.int Eurostat news releases on the Internet:

3 Euro-zone trade - previous 6 months - non seasonally adjusted data Flows Jul 04 Jun 04 May 04 Apr 04 Mar 04 Feb 04 Extra-eurozone exports r r 93.1 r r 87.5 r Extra-eurozone imports 88.1 r 91.5 r 85.7 r r 80.5 Extra-eurozone trade balance r 7.0 r 10.4 r 6.9 Intra-eurozone dispatches 98.0 r r r 92.9 EU25 trade - previous 6 months - non seasonally adjusted data Flows Jul 04 Jun 04 May 04 Apr 04 Mar 04 Feb 04 Extra-EU25 exports 86.6 r 85.5 r 78.5 r 80.2 r Extra-EU25 imports 85.4 r r 87.1 r 86.1 r 75.3 Extra-EU25 trade balance 1.3 r r r -3.8 Intra-EU25 dispatches r r r r r r: Revised Main products - Euro-zone - non seasonally adjusted data Euro-zone exports Euro-zone imports Trade balance Jan-Aug 04 Jan-Aug 03 Jan-Aug 04 Jan-Aug 03 Jan-Aug 04 Jan-Aug 03 Primary products: % % Food & drink % % Crude materials % % Energy % % Manufactured goods: % % Chemicals % % Machinery & vehicles % % Other manuf d articles % % Other % % Total % % Main products - EU25 - non seasonally adjusted data EU25 exports EU25 imports Trade balance Jan-Aug 04 Jan-Aug 03 Jan-Aug 04 Jan-Aug 03 Jan-Aug 04 Jan-Aug 03 Primary products: % % Food & drink % % Crude materials % % Energy % % Manufactured goods: % % Chemicals % % Machinery & vehicles % % Other manuf d articles % % Other % % Total % %

4 Main trading partners - Euro-zone - non seasonally adjusted data Euro-zone exports to Euro-zone imports from Trade balance Jan-Aug 04 Jan-Aug 03 Jan-Aug 04 Jan-Aug 03 Jan-Aug 04 Jan-Aug 03 United Kingdom % % United States % % China % % Switzerland % % Japan % % Russia % % Sweden % % Poland % % Czech Republic % % Turkey % % Main trading partners - EU25 - non seasonally adjusted data EU25 exports to EU25 imports from Trade balance Jan-Aug 04 Jan-Aug 03 Jan-Aug 04 Jan-Aug 03 Jan-Aug 04 Jan-Aug 03 United States % % China % % Switzerland % % Russia % % Japan % % Norway % % Turkey % % South Korea % % Canada % % Brazil % % Member States total trade (intra-eu25 + extra-eu25) - non seasonally adjusted data Total exports Total imports Trade balance Jan-Aug 04 Jan-Aug 03 Jan-Aug 04 Jan-Aug 03 Jan-Aug 04 Jan-Aug 03 Belgium % % Czech Republic % % Denmark : 38.2 : : 33.0 : : 5.2 Germany % % Estonia % % Greece % % Spain % % France % % Ireland % % Italy % % Cyprus % % Latvia % % Lithuania % % Luxembourg % % Hungary % % Malta : 1.3 : : 1.9 : : -0.6 Netherlands % % Austria % % Poland % % Portugal % % Slovenia % % Slovakia % % Finland % % Sweden % % United Kingdom % % : Data not available

5 Annex - Seasonally adjusted data Seasonally adjusted series have been calculated using one harmonised methodology. The seasonally adjusted series give a complementary view of the monthly evolution of trade. Seasonally adjusted figures may not match those published by Member States, due to differences in the raw data 4, in the choice of seasonal adjustment model and to the use of series in national currency or in euro. Euro-zone trade seasonally adjusted data Flows Sep 04 Aug 04 Jul 04 Jun 04 May 04 Apr 04 Sep/Aug Aug/Jul Jul/Jun Jun/May May/Apr Extra-eurozone exports % 0.5% 0.0% 1.1% -1.1% Extra-eurozone imports % 3.3% 1.7% 3.3% -0.9% Extra-eurozone trade balance Intra-eurozone dispatches % 1.5% 0.1% 2.3% -0.6% EU25 trade seasonally adjusted data Flows Sep 04 Aug 04 Jul 04 Jun 04 May 04 Apr 04 Sep/Aug Aug/Jul Jul/Jun Jun/May May/Apr Extra-EU25 exports % 0.3% 0.1% 1.6% -0.1% Extra-EU25 imports % 3.5% 0.7% 5.2% -3.1% Extra-EU25 trade balance Intra-EU25 dispatches % 0.5% 0.3% 1.9% -0.8% Contribution of EU25 Member States to extra-eu25 trade seasonally adjusted data Total exports Total imports Trade balance Sep 04 Aug 04 Sep 04 Aug 04 Sep 04 Aug 04 EU25* % % Belgium % % Czech Republic % % Denmark : 1.4 : : 1.4 : : 0.1 Germany % % Estonia % % Greece % % Spain % % France % % Ireland % % Italy % % Cyprus : 0.0 : : 0.1 : : -0.1 Latvia % % Lithuania % % Luxembourg % % Hungary % % Malta : : : : : : : : Netherlands % % Austria % % Poland % % Portugal % % Slovenia % % Slovakia % % Finland % % Sweden % % United Kingdom % % : Data not available * Includes Eurostat estimates for Member States not available

6 Seasonally adjusted data Extra-eurozone trade Balance Imports Exports Extra-EU25 trade Balance Imports Exports