The first estimate for the euro area (EA13) trade balance with the rest of the world in July 2007 gave a 4.6 bn euro surplus, compared with +1.1 bn in July 2006. The June 20072 balance was +7.6 bn, compared with +1.6 bn in June 2006. In July 2007 compared with June 2007, seasonally adjusted exports fell by 0.5%, while imports rose by 3.6%.

The first estimate for July 2007 extra-EU27 trade was a deficit of 13.8 bn euro, compared with -13.9 bn in July 2006. In June 2007, the balance was -9.4 bn, compared with -13.3 bn in June 2006. In July 2007 compared with June 2007, seasonally adjusted exports fell by 1.5%, while imports rose by 3.2%.

EU27 January-June 2007 detailed results

The energy deficit decreased (-121.8 bn euro in January-June 2007 compared with -141.8 bn in January-June 2006), while the surpluses rose in the chemicals sector (+37.7 bn compared with +36.4 bn) and for machinery and vehicles (+58.1 bn compared with +44.7 bn).

EU27 trade with most of its major partners grew, with the exception of exports to the USA (-2% in January-June 2007 compared with January-June 2006), and imports from Norway (-10%) and Russia (-6%). The largest increases were for exports to Russia (+30%), India (+20%), China and Brazil (both +14%), South Korea (+12%) and Norway (+10%), and for imports from China (+20%), Brazil (+17%), India (+16%) and Turkey (+14%).

The EU27 trade surplus with the USA fell (+38.4 bn euro in January-June 2007 compared with +43.3 bn in January-June 2006). The EU27 trade deficit grew with China (-72.5 bn compared with -59.0 bn), but decreased with Russia (-27.8 bn compared with -41.4 bn) and Norway (-15.7 bn compared with -21.9 bn). The EU27 trade balance with Switzerland (+6.9 bn compared with +7.1 bn), Japan (-17.2 bn compared with -17.0 bn) and South Korea (-7.9 bn compared to -8.2 bn) remained nearly stable.

Concerning the total trade of Member States, the largest surplus was observed in Germany (+97.0 bn euro in January-June 2007), followed by the Netherlands (+20.6 bn), Ireland (+15.6 bn), Sweden (+8.5 bn) and Belgium (+7.5 bn). The United Kingdom (-65.4 bn) registered the largest deficit, followed by Spain (-44.9 bn), France (-19.3 bn), Greece (-19.0 bn), Romania (-9.8 bn) and Portugal (-8.8 bn).