International Internet Magazine. Baltic States news & analytics
Monday, 24.11.2014, 15:49
Lithuanian trade in goods balance deficit at EUR1.1 bn
The first estimate for the euro area (EA17) trade in goods balance with the rest of the world in June 2012 gave a 14.9 bn euro surplus, compared with +0.2 bn in June 2011. The May 20122 balance was +7.1 bn, compared with -0.9 bn in May 2011. In June 2012 compared with May 2012, seasonally adjusted exports rose by 2.4 percent and imports remained almost stable.
The first estimate for the June 2012 extra-EU27 trade in goods balance was a 0.4 bn euro surplus, compared with
-15.3 bn in June 2011. In May 20122 the balance was -3.8 bn, compared with -14.2 bn in May 2011. In June 2012 compared with May 2012, seasonally adjusted exports rose by 2.1 percent and imports by 0.9 percent.
The EU27 deficit for energy increased (-176.6 bn euro in January-May 2012 compared with -156.8 bn in January- May 2011), as did the surplus for manufactured goods (+133.8 bn compared with +90.6 bn).
EU27 exports to most of its major partners grew in January-May 2012 compared with January-May 2011, except for Turkey and India (both -4 percent).
The most notable increases were recorded for exports to Russia (+18 percent), South Korea (+16 percent), Brazil (+15 percent) and Japan (+14 percent). As regards EU27 imports, the pattern was mixed. The largest increases were recorded for imports from Norway (+12 percent) and the USA (+9 percent), and the largest falls with India (-10 percent) and Japan (-6 percent).
The EU27 trade surplus increased with the USA (+32.5 bn euro in January-May 2012 compared with +28.2 bn in
January-May 2011), but fell with Switzerland (+18.2 bn compared with +19.0 bn) and Turkey (+10.5 bn compared with +11.0 bn). The EU27 trade deficit fell with China (-56.4 bn compared with -62.4 bn), Russia (-42.8 bn compared with -45.3 bn) and Japan (-5.8 bn compared with -10.1 bn), but increased with Norway (-24.8 bn compared with -20.4 bn).
Concerning the total trade of Member States, the largest surplus was observed in Germany (+74.7 bn euro in January-May 2012), followed by the Netherlands (+20.4 bn) and Ireland (+16.9 bn). The United Kingdom (-60.9 bn) registered the largest deficit, followed by France (-36.1 bn) and Spain (-16.8 bn), reported LETA.