The first estimate for the euro area (EA17) trade in goods balance with the rest of the world in July 2012 gave a 15.6 bn euro surplus, compared with +2.1 bn in July 2011. The June 2012 balance was +13.6 bn, compared with +0.2 bn in June 2011. In July 2012 compared with June 2012, seasonally adjusted exports fell by 2.0% and imports by 1.2%.

The first estimate for the July 2012 extra-EU271 trade in goods balance was a 3.1 bn euro surplus, compared with -10.9 bn in July 2011. In June 20122 trade was in balance, compared with a deficit of 15.3 bn in June 2011. In July 2012 compared with June 2012, seasonally adjusted exports declined by 1.7% and imports by 1.3%.

EU27 detailed results for January to June 2012

The EU27 deficit for energy increased (-208.6 bn euro in January-June 2012 compared with -187.2 bn in January-June 2011), as did the surplus for manufactured goods (+167.8 bn compared with +112.1 bn).

EU27 exports to most of its major partners grew in January-June 2012 compared with January-June 2011, except with India (-6%) and Turkey (-2%). The most notable increases were recorded for exports to Russia and South Korea (both +18%), Japan (+16%) and Brazil (+15%). As regards EU27 imports, the pattern was mixed. The largest increases were recorded for imports from Norway (+11%), South Korea and the USA (both +9%), and the largest falls with India (-11%) and Japan (-5%).

The EU27 trade surplus increased with the USA (+40.6 bn euro in January-June 2012 compared with +34.0 bn in January-June 2011), and remained nearly stable with Switzerland (+21.4 bn compared with +21.2 bn) and Turkey (+13.0 bn compared with +13.2 bn). The EU27 trade deficit fell with China (-67.5 bn compared with -75.0 bn), Russia (-48.1 bn compared with -51.7 bn) and Japan (-6.1 bn compared with -11.5 bn), but increased with Norway (-28.3 bn compared with -24.4 bn).

Concerning the total trade of Member States, the largest surplus was observed in Germany (+92.4 bn euro in January-June 2012), followed by the Netherlands (+25.6 bn) and Ireland (+20.9 bn). The United Kingdom (-73.8 bn) registered the largest deficit, followed by France (-43.9 bn) and Spain (-18.9 bn).