The first estimate for the euro area (EA16) trade balance with the rest of the world in March 2009 gave a 0.4 bn euro surplus, compared with -2.3 bn in March 2008. The February 20092 balance was -1.0 bn, compared with +1.7 bn in February 2008. In March 2009 compared with February 2009, seasonally adjusted exports rose by 1.4% and imports by 0.6%.

The first estimate for the March 2009 extra-EU27 trade balance was a deficit of 9.5 bn euro, compared with -19.6 bn in March 2008. In February 20092 the balance was -10.8 bn, compared with -13.3 bn in February 2008. In March 2009 compared with February 2009, seasonally adjusted exports rose by 2.5% and imports by 0.7%.

EU27 January-February 2009 detailed results

The EU27 energy deficit decreased (-38.6 bn euro in January-February 2009 compared with -58.0 bn in January-February 2008), while the surplus fell for chemicals (+10.1 bn compared with +13.6 bn) and for machinery and vehicles (+11.3 bn compared with +21.9 bn).

EU27 trade flows with all of its major partners fell. The biggest decreases were recorded for exports to Turkey (-41% in January-February 2009 compared with January-February 2008), Russia (-37%), South Korea (-33%) and India (-31%), and for imports from Russia (-39%), Turkey (-30%), Norway and Brazil (both -28%).

The EU27 trade surplus fell with the USA (+4.2 bn in January-February 2009 compared with +11.7 bn in January-February 2008) and with Switzerland (+2.2 bn compared with +3.1 bn). The EU27 trade deficit decreased with Russia (-7.2 bn compared with -12.5 bn), Norway (-6.0 bn compared with -8.5 bn) and Japan (-3.7 bn compared with -5.3 bn), and remained nearly stable with China (-28.1 bn compared with -28.3 bn).

Concerning the total trade of Member States, the largest surplus was observed in Germany (+15.8 bn euro in January-February 2009), followed by the Netherlands (+6.3 bn) and Ireland (+5.6 bn). The United Kingdom (-16.0 bn) registered the largest deficit, followed by France (-10.6 bn), Spain (-10.3 bn), Greece (-4.6 bn) and Italy (-4.5 bn).