The first estimate for the euro area (EA15) trade balance with the rest of the world in March 2008 gave a 2.3 bn euro deficit, compared with +7.5 bn in March 2007. The February 2008 balance was +0.8 bn, compared with -1.6 bn in February 2007. In March 2008 compared with February 2008, seasonally adjusted exports fell by 2.9% while imports remained stable.

The first estimate for the March 2008 extra-EU27 trade balance was a deficit of 20.5 bn euro, compared with -10.5 bn in March 2007. In February 2008, the balance was -15.6 bn, compared with -17.5 bn in February 2007. In March 2008 compared with February 2008, seasonally adjusted exports fell by 4.9% while imports rose by 0.3%.

These data are released by Eurostat, the Statistical Office of the European Communities.

EU27 January-February 2008 detailed results

The EU27 energy deficit increased (-58.1 bn euro in January-February 2008 compared with -42.0 bn in January-February 2007), while the surplus rose for machinery and vehicles (+22.0 bn compared with +12.6 bn).

EU27 trade with most of its major partners grew, with the exception of imports from the USA (0% in January-February 2008 compared with January-February 2007) and Japan (-2%). The largest increases were recorded for exports to Russia (+33%) and Brazil (+30%), and imports from Norway (+27%) and Russia (+26%).

The EU27 trade surplus rose with the USA (+11.4 bn euro in January-February 2008 compared with +10.7 bn in January-February 2007) and remained nearly stable with Switzerland (+2.3 bn compared with +2.4 bn). The EU27 trade deficit grew with China (-28.4 bn compared with -27.3 bn), Russia (-12.4 bn compared with -10.5 bn) and Norway (-8.4 bn compared with -6.1 bn), but fell with Japan (-5.2 bn compared with -5.6 bn).

Concerning the total trade of Member States, the largest surplus was observed in Germany (+33.9 bn euro in January-February 2008), followed by the Netherlands (+6.8 bn). The United Kingdom (-22.9 bn) registered the largest deficit, followed by Spain (-17.0 bn), France (-10.0 bn), Greece (-5.9 bn) and Italy (-4.6 bn).