The first estimate for the euro area (EA16) trade balance with the rest of the world in August 2009 gave a 4.0 bn euro deficit, compared with -11.3 bn in August 2008. The July 2009 balance was +12.3 bn, compared with -4.6 bn in July 2008. In August 2009 compared with July 2009, seasonally adjusted exports fell by 5.8% and imports by 1.3%.

The first estimate for the August 2009 extra-EU27 trade balance was a 12.1 bn euro deficit, compared with -28.7 bn in August 2008. In July 20092 the balance was +0.6 bn, compared with -23.4 bn in July 2008. In August 2009 compared with July 2009, seasonally adjusted exports fell by 4.2% and imports by 1.4%.

EU27 January-July 2009 detailed results

The EU27 energy deficit decreased (-132.6 bn euro in January-July 2009 compared with -227.7 bn in January-July 2008). The surplus fell for machinery and vehicles (+61.3 bn compared with +90.9 bn), but rose for chemicals (+47.0 bn compared with +45.1 bn).

EU27 trade flows with all of its major partners fell. The largest decreases were recorded for exports to Russia (-40% in January-July 2009 compared with January-July 2008), Turkey (-30%), South Korea (-24%), Brazil (-23%), Norway (-21%) and the USA (-20%), and for imports from Russia (-44%), Norway (-31%), Japan (-29%), Brazil (-28%) and Turkey (-27%).

The EU27 trade surplus fell with the USA (+22.4 bn euro in January-July 2009 compared with +38.4 bn in January-July 2008), Switzerland (+7.4 bn compared with +10.8 bn) and Turkey (+3.4 bn compared with +6.2 bn). The EU27 trade deficit decreased with China (-75.2 bn compared with -87.2 bn), Russia (-24.5 bn compared with -47.9 bn), Norway (-19.1 bn compared with -31.9 bn), Japan (-11.7 bn compared with -20.3 bn) and South Korea (-6.9 bn compared with -7.2 bn).

Concerning the total trade of Member States, the largest surplus was observed in Germany (+73.4 bn euro in January-July 2009), followed by Ireland (+23.3 bn) and the Netherlands (+20.9 bn). The United Kingdom (-54.4 bn) registered the largest deficit, followed by France (-30.4 bn), Spain (-26.9 bn), Greece (-17.1 bn) and Portugal (-10.0 bn).