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Thursday, 25.04.2024, 02:41
Trade balance in national economy: EU’s assessment for 2016-17
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EU
trade goes both among international partners and within the EU free trade area.
Thus, EU-28 international trade (so-called extra EU-28 exports) in goods in
August 2017 was €145.5 billion, up by 6.4% compared with August 2016 (€136.7
bn).
Imports
from the rest of the world to the EU-28 (so called intra EU-28 trade) stood at
€150.5 bn, up by 3.9% compared with August 2016 (€144.8 bn). As a
result, the EU-28 recorded a €5.1 bn deficit in trade in goods with the rest of
the world in 2017, compared with a deficit of €8.2 bn in 2016.
Intra-EU28 trade rose to €249.3 bn in 2017, i.e. plus 7.7% compared with 2016.
Eurozone trade: flourishing issue
Euro
area countries (so-called EA-19, with the 3 Baltic States included) exports of
goods to the rest of the world in one month only (August 2017) reached
€171.5 billion, an increase of 6.8% compared with 2016 (€160.6 bn). Imports to the
EA-19 from the rest of the world during the same month stood at €155.4 bn, a
rise of 8.6% compared with 2016 (€143.1 bn). As a result, the euro area recorded
a €16.1 bn surplus in trade in goods with the rest of the world in
2017, compared with €17.5 bn surplus in 2016. Intra-euro area trade rose to
€132.9 bn in 2017, up by 7.6% compared with 2016.
In eight month of 2017, euro area exports of goods to the rest of the world increased drastically and stood at €1 437.6 bn (an increase of 7.6% compared with January-August 2016) and imports at €1 292.4 bn (an increase of 11.1% compared with the same period in 2016). As a result, the euro area recorded a surplus of €145.3 bn, compared with a surplus of €172.2 bn in January-August 2016. Intra-euro area trade rose to €1 209.3 bn in January-August 2017, +7.5% compared with the same period in 2016.
Main import-export products in the EU-28, in bn €, during 2016-17
Extra-EU28 exports Extra-EU28 imports Trade balance
Total 1 128.6 1- 1 233.3 1 122.7 - 1 227.8 5.9 - 5.5
Primary goods:
148.7 - 176.3 281.6 - 349.6 minus 133.0/minus173.3 = Food
& drink 74.6 - 79.2 71.9 - 75.2 2.7 - 4.0
=
Raw materials 27.9 - 33.2 45.1 - 52.8 minus17.1/ minus 19.6
=
Energy 46.1 -
63.9 164.7 - 221.6 minus 118.6 /minus 157.7
Manufactured goods:
945.8 - 1 017.4 784.3 - 838.5 161.6 - 178.9
=
Chemicals 207.0 -
223.2 125.5 -132.4 81.5 - 90.8
=
Machinery & vehicles 479.4 - 514.7 359.4 - 387.1 120.0 - 127.6
=
Other manuf’d goods 259.5 - 279.6 299.4- 319.0 minus 39.9/minus 39.5
Other: 34.1 - 39.6 56.8 - 39.7 minus 22.7/minus 0.1
Main trading partners: EU-28, in bn € (2016-17)
EU28 exports to EU28 imports from Trade balance
United
States: 238.4 - 248.1; 167.0 - 172.7 71.4
- 75.4
China:
108.8 - 129.6; 222.6 - 238.3 minus 113.8 –minus 108.7
Switzerland:
90.0 - 101.9 83.3 - 72.4 6.7 - 29.4
Russia:
46.0 - 56.2 75.3 - 96.4 minus 29.3 - minus
40.2
Turkey:
51.6 - 54.6 44.4 - 46.7 7.2 - 7.9
Japan: 36.9 - 39.8 43.8
- 46.9 minus
6.9 – minus 7.1
Norway:
31.4 - 33.3 40.5 - 51.1 minus 9.1 -
minus 17.8
International trade in the three Baltic States, in € bln
Latvia
= Exports: total- 7.7; Intra-EU: 5.3, Extra-EU - 2.5
= Imports: total
- 9.7; Intra-EU- 7.5, Extra-EU - 2.1
= Trade balance: total
-minus 1.9 Intra-EU
- minus 2.3 Extra EU - 0.4
Lithuania
= Exports: total
-16.9 Intra EU- 10.0 Extra EU - 6.9
= Imports: total - 18.7 Intra EU - 13.1 Extra-EU
- 5.6
= Trade balance: total
–minus 1.8 Intra EU- minus 3.1 Extra-EU - 1.3
Estonia
= Exports:
total - 8.4 Intra
EU- 6.1 Extra EU- 2.4
= Imports:
total - 9.8 Intra EU- 7.9 Extra EU- 1.9
= Trade balance:
total
– minus 1.4 Intra EU- minus 1.8 Extra EU - 0.4
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