Trade balance deficit of 4.6 billion Euros in Eurozone

According to estimates the Eurozone (EU15) generated a trade balance deficit of 4.6 billion Euros in May 2008. In May 2007 the trade balance of the EU15 had closed with a surplus of 1.4 billion Euros.

The comparison with April shows that exports fell by 3.4% after adjustment for season while imports decreased by 1.3%. However, there is a surplus balance of 6.6 billion Euros in May generated by Germany which places it at the top in Europe, followed by Sweden and Ireland with surpluses of 1.1 billion and 1.0 billion Euros respectively.

According to estimates the trade balance of the EU27 closed with a deficit of 21.5 billion Euros in May 2008 whereas in May 2007 the deficit amounted to 14.7 billion. The balances for April 2008 and April 2007 were -15.4 billion and -12.9 billion respectively. In May 2008 exports were down by 4.0% and imports by 1.3% (adjusted for season) as compared to April 2008.

The above figures are from Eurostat, the European Statistical Office. GERMAN

Explanations:

  • Eurozone (EZ15): Belgium, Germany, Ireland, Greece, Spain, France, Italy, Luxembourg, the Netherlands, Austria, Portugal, Slovenia, Finland, Cyprus and Malta
  • EU27: Belgium, Bulgaria, Czech Republic, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Luxembourg, Hungary, Malta, the Netherlands, Austria, Portugal, Poland, Romania, Slovenia, Slovakia, Finland, Sweden and Great Britain