The first estimate for the euro area (EA13) trade balance with the rest of the world in August 2007 gave a 1.3 bn euro surplus, compared with -5.2 bn in August 2006. The July 2007 balance was +5.7 bn, compared with +1.1 bn in July 2006. In August 2007 compared with July 2007, seasonally adjusted exports rose by 4.9% and imports by 2.0%.

The first estimate for August 2007 extra-EU27 trade was a deficit of 16.3 bn euro, compared with -22.2 bn in August 2006. In July 2007, the balance was -13.4 bn, compared with -13.9 bn in July 2006. In August 2007 compared with July 2007, seasonally adjusted exports rose by 2.9%, while imports fell by 0.4%.

EU27 January-July 2007 detailed results

The EU27 energy deficit decreased (-144.7 bn euro in January-July 2007 compared with -165.5 bn in January-July 2006), while the surpluses rose in the chemicals sector (+43.5 bn compared with +42.8 bn) and for machinery and vehicles (+71.8 bn compared with +54.7 bn).

EU27 trade with most of its major partners grew, with the exception of exports to the USA (-2% in January-July 2007 compared with January-July 2006), and imports from Norway (-9%) and Russia (-4%). The largest increases were for exports to Russia (+30%), India (+22%), Brazil (+17%) and China (+15%), and for imports from China (+22%), Brazil (+18%), India (+17%) and Turkey (+14%).

The EU27 trade surplus with the USA fell (+46.6 bn euro in January-July 2007 compared with +51.8 bn in January-July 2006). The EU27 trade deficit grew with China (-86.1 bn compared with -68.9 bn) and Brazil (-6.3 bn compared with -5.3 bn), but decreased with Russia (-32.2 bn compared with -46.9 bn) and Norway (-18.7 bn compared with -25.5 bn). The EU27 trade balances with Japan (-19.7 bn in both periods), Switzerland (+8.2 bn compared with +8.3 bn) and South Korea (-9.0 bn compared to -9.2 bn) remained nearly stable.

Concerning the total trade of Member States, the largest surplus was observed in Germany (+114.9 bn euro in January-July 2007), followed by the Netherlands (+23.6 bn), Ireland (+18.3 bn), Belgium (+9.5 bn) and Sweden (+9.3 bn). The United Kingdom (-78.1 bn) registered the largest deficit, followed by Spain (-53.3 bn), France (-22.9 bn), Greece (-22.5 bn), Romania (-11.6 bn) and Portugal (-10.1 bn).