The first estimate for the euro area (EA15) trade balance with the rest of the world in October 2008 gave a 0.9 bn euro surplus, compared with +4.2 bn in October 2007. The September 2008 balance was -4.5 bn, compared with +2.9 bn in September 2007. In October 2008 compared with September 2008, seasonally adjusted exports fell by 2.5% and imports by 4.6%.

The first estimate for the October 2008 extra-EU27 trade balance was a deficit of 17.1 bn euro, compared with -15.3 bn in October 2007. In September 2008, the balance was -23.5 bn, compared with -16.6 bn in September 2007. In October 2008 compared with September 2008, seasonally adjusted exports fell by 2.0% and imports by 4.5%.

EU27 January-September 2008 detailed results

The EU27 energy deficit increased (-282.9 bn euro in January-September 2008 compared with -191.4 bn in January-September 2007), while the surplus for machinery and vehicles rose (+116.1 bn compared with +89.1 bn).

EU27 trade with most of its major partners grew, with the exception of exports to the USA and Japan (both -3% in January-September 2008 compared with January-September 2007), and imports from South Korea (-6%) and Japan (-2%). The largest increases were recorded for exports to Brazil (+27%) and Russia (+25%), and for imports from Russia (+31%) and Norway (+29%).

The EU27 trade surplus fell with the USA (+49.1 bn in January-September 2008 compared with +59.2 bn in January-September 2007), while it increased with Switzerland (+13.6 bn compared with +11.5 bn) and Turkey (+7.6 bn compared with +3.6 bn). The EU27 trade deficit grew with China (-120.5 bn compared with -116.7 bn), Russia (-57.1 bn compared with -40.6 bn) and Norway (-37.5 bn compared with -23.1 bn), fell with South Korea
(-9.1 bn compared with -12.8 bn), and remained nearly stable with Japan (-25.6 bn compared with -25.7 bn).

Concerning the total trade of Member States, the largest surplus was observed in Germany (+142.3 bn euro in January-September 2008), followed by the Netherlands (+31.9 bn) and Ireland (+20.2 bn). The United Kingdom (-91.7 bn) registered the largest deficit, followed by Spain (-72.2 bn), France (-50.2 bn) and Greece (-27.3 bn).