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Friday, 26.04.2024, 01:41
EU trade globally and in Asia: surplus coped with deficit
Print versionThe first estimate
for euro area (EA-19)
exports of goods to the rest of the world in May 2016 was €167.4 bln, an
increase of 2% compared with May 2015 (€164.3 bln).
Imports from the
rest of the world stood at €142.8 bln, a fall of 2% compared with May 2015
(€146.0 bln). As a result, the euro area
recorded a €24.6 bln surplus in trade in goods with the rest of the world in
May 2016, compared with + €18.3 bln in May 2015. Intra-euro
area trade rose to €139.4 bln in May 2016, up by 1%
compared with May 2015.
In 2015, among three Baltic States Estonia has had a deficit of €411 mln, Latvia - €123 mln, and Lithuania - about €1,8 bln.
Full text available on EUROSTAT website;
http://europa.eu/rapid/press-release_STAT-16-2537_en.htm?locale=en
Over the ten-year’s period (2005-2015), the EU registered a constant trade deficit with the Asian states well above €200 bln. In 2015, it stood at €277 bln, down from its peak of €320 bln recorded in 2008.
30 ASEM states vs. 21 European
The EU-Asia trade cooperation (called Asia-Europe Meeting, ASEM) was created in 1996 as a forum for dialogue and cooperation between Europe and Asia. It consists - on one side- of the EU-28 states, Norway and Switzerland from the European Free Trade Association, EFTA; on another side there are 10 members of ASEAN (the Association of Southeast Asian Nations): Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam, as well as 11 other countries: Australia, Bangladesh, China, India, Japan, Kazakhstan, Mongolia, New Zealand, Pakistan, Russia and South Korea.
EU-ASEM: trade in goods
Top
5 ASEM-EU partners for trade in goods
are China, Russia, Japan, South Korea and India.
Among the 21 ASEM partners, China (€170.4 bln euro) was the leading destination for EU exports in 2015, accounting for a third (33%) of EU exports to all ASEM partners.
Russia (€73.9 bln, or 14%), Japan (€56.6 bln, or 11%), South Korea (€47.9 bln, or 9%)
and India (€38.2 bln, or
7%) were some way behind.
The leading source of EU imports from the ASEM partners was also, and by far, China (€350.4 bln), which represented 44% of EU imports from all ASEM partners, followed by Russia (€135.6 bln, or 17%).
EU’s
deficit in trade with ASEM
The highest EU deficits in trade with the ASEM partners in 2015 were recorded with China (-€180.1 bln), Russia (- €61.7 bln), Vietnam (- €21.5 bln), Bangladesh (- €12.7 bln), Kazakhstan (-€10.0 bln) and Malaysia (- €9.4 bln).
In
contrast, notable surpluses in EU trade were registered only with Australia (+ €22.0 bln), Singapore (+ €10.7 bln) and South Korea (+ €5.6 bln).
Between 2005 and 2015, the share in EU total trade with ASEM partners (exports + imports) notably increased for China (from 27.4% in 2005 to 39.6% in 2015) and Vietnam (from 1.0% in 2005 to 2.9% in 2015), while it fell particularly for Japan (from 15.2% in 2005 to 8.8% in 2015) and Russia (from 22.0% in 2005 to 15.9% in 2015) over this 10-year period.
Reference: Eurostat Publication, 14.07.2016, in: http://ec.europa.eu/eurostat/documents/2995521/7561957/6-14072016-AP-EN.pdf/e31c3371-6987-4673-bea7-7d8dc9f21d85
Germany: leading EU export/import state in trade with ASEM
Among the EU member states, Germany (€174.5 bln or 34% of EU exports of goods to ASEM partners) was by far the largest exporter to the ASEM partners in 2015, followed by the United Kingdom (€63.9 bln or 12%), France (€55.7 bln or 11%) and Italy (€43.7 bln or 8%).
Germany (€157.8 bln or 20%) was also the
main importer from ASEM partners,
followed by the Netherlands (€127.9
bln or 16%), the United Kingdom (€111.2
bln or 14%), Italy (€65.4
bln or 8%) and France (60.9
bln or 8%).
The largest deficits in 2015 were registered by the Netherlands (- €91.4 bln), the United Kingdom (- €47.3 bln), Poland (- €23.8 bln), Spain (- €23.7 bln), Italy (- €21.6 bln) and Belgium (- €21.5 bln). The only surpluses in trade with ASEM partners were recorded by three EU states: Germany (+ €16.8 bln), Ireland (+ €2.9 bln) and Finland (+ €0.5 bln).
Source:
The EU euro area recorded a €24.6 bln surplus in trade in goods with the rest of the world in May 2016, compared with + €18.3 bln in May 2015. Intra-euro area trade rose to €139.4 bln in May 2016, up by 1% compared with May 2015. Source:
Full text available on EUROSTAT website; Reference: http://ec.europa.eu/eurostat/web/products-press-releases
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