STAT/02/22
22 February 2002
2001 first estimates
Euro-zone external trade surplus
49.6 bn euro in 2001
45.4 bn euro deficit for EU15
The first estimate for euro-zone1 trade with the rest of the world in December 2001 was a 8.7 billion euro
surplus, compared with a 0.7 bn deficit in December 2000. The revised 2 November 2001 surplus was 7.0 bn,
against a 0.5 bn deficit in November 2000.
The first estimate for December 2001 extra-EU15 trade was a 1.7 billion euro surplus, compared with a 6.2
bn deficit in December 2000. In November 2001, there was a revised2 surplus of 0.2 bn, against a 7.9 bn
deficit in November 2000.
In 2001, euro-zone trade recorded a surplus of 49.6 bn, compared with +5.1 bn in 2000. EU15 trade
registered a deficit estimated at 45.4 bn in 2001 compared with -91.0 bn in 2000. The figures come today
from Eurostat, Statistical Office of the European Communities in Luxembourg.
EU15 January-November 2001 detailed results
During the first eleven months of 2001, the energy deficit stabilised (-108.7 bn in Jan-Nov 2001 compared to
-106.7 bn in Jan-Nov 2000), while the surplus for machinery and vehicles has strongly increased (+74.6 bn
compared with +40.2 bn).
EU15 trade flows with its major partners were mixed, with falls recorded in imports from Japan, which fell by
12%, and from USA, which fell by 1%, and exports to Turkey, which fell by 33%. The most notable increases
were in exports to Russia (+40%), China (+20%) and the Czech Republic (+15%) and in imports from the
Czech Republic and Turkey (both +17%) and Poland (+15%).
EU15 trade with the USA was characterised by an increase in the EU surplus (+40.3 bn in Jan-Nov 2001
compared to +31.8 bn in Jan-Nov 2000) while EU15 trade with Japan showed a decrease in the EU deficit
(-29.2 bn compared to -38.9 bn). The highest EU15 trade deficit in the first eleven months of 2001 was
recorded with China (-42.6 bn) and the highest surplus was registered with the USA.
Concerning the total trade of Member States, the largest surplus was observed in Germany (+78.7 bn euro),
followed by Ireland (+33.8 bn). The United Kingdom registered the largest deficit (-61.0 bn), followed by
Spain (-33.8 bn).
Euro-zone trade – non seasonally adjusted data
bn euro
Graphic in PDF and Word format
EU15 trade – non seasonally adjusted data
bn euro
Graphic in PDF and Word format
Background notes
1.
Euro-zone: Belgium, Germany, Greece (from January 2001), Spain, France, Ireland, Italy, Luxembourg,
Netherlands, Austria, Portugal and Finland. Euro-zone data up to end 2000 cover the eleven Member States; with
Greece’s entry into the euro-zone from the beginning of 2001, they cover the twelve Member states. The euro-zone
is treated as an entity regardless of its composition. Extra-euro-zone trade is trade with all countries outside the
euro-zone, including the three (four before 2001) Member States not in the euro-zone. For analytical purposes,
Eurostat has made available in its database Comext historic series covering the current twelve Member States of
the euro-zone since 1995.
2.
The first estimates were +5.5 bn for the euro-zone and -0.6 bn for the EU15. See news release 10/2002 issued on
22 January 2002.
3.
This news release is based on data available on 19 February 2002. These are provisional figures based on
information provided by Member States. They are subject to frequent revision for up to two years after the month in
question. Furthermore national concepts may differ from the harmonised methodology used by Eurostat, leading to
differences between figures in this release and those published nationally, both for raw data and for seasonally
adjusted series.
4.
September, October and November extra-EU data for Greece, October intra-EU data for Greece and November
intra-EU data for Greece, Luxembourg and Portugal are still estimates. December extra-EU data for Denmark,
Germany, France and Luxembourg and intra-EU data for Denmark, Germany, France, Luxembourg, Portugal and
Sweden are based on data from national databases. December extra-EU data for Greece and Spain and intra-EU
data for Greece, Spain, Ireland, Italy, the Netherlands, Austria, Finland and the UK are estimates by Eurostat.
5.
Since the introduction of Intrastat for intra-EU trade on 1 January 1993, the value of dispatches has been
consistently higher than that of arrivals. In 2000 this divergence was some 80 bn euro, or about 5% of intra-EU
trade. In theory, as dispatches are declared FOB and arrivals CIF, the value of arrivals should be slightly higher
than that of dispatches. Eurostat uses dispatches as the more reliable measure of total intra-EU trade as, at
aggregated levels, total dispatches has better coverage than total arrivals.
6.
Due to this divergence in intra-EU trade, and to the difficulties of interpreting figures in absolute terms at the level of
individual Member States, trade balances for individual Member States must be interpreted with caution. The same
caution applies to the trade balance of the euro-zone, which includes intra-EU trade with the three (four before
2001) other Member States.
7.
The next news release including revised data for December 2001 and first estimates for January 2002 will be
issued on 22 March 2002.
Issued by:
Eurostat Press Office
Philippe BAUTIER, Louise CORSELLI NORDBLAD
BECH Building
L-2920 LUXEMBOURG
Tel:
+352-4301-33 408
Fax:
+352-4301-35 349
eurostat-pressoffice@cec.eu.int
For further information on data:
Tim ALLEN
Tel:
+352-4301-35 098
Fax:
+352-4301-34 339
timothy.allen@cec.eu.int
Denis LEYTHIENNE
Tel:
+352-4301-33 493
Fax:
+352-4301-34 339
denis.leythienne@cec.eu.int
Eurostat news releases on the Internet:
http://europa.eu.int/comm/eurostat/
Non seasonally adjusted data
bn euro
100
Extra-eurozone trade
80
60
40
20
0
-20
01-99
04-99
07-99
10-99
01-00
04-00
Balance
07-00
10-00
Imports
01-01
04-01
07-01
10-01
Exports
Graph shows EUR11 up to December 2000, EUR12 from January 2001
bn euro
100
Extra-EU15 trade
80
60
40
20
0
-20
01-99
04-99
07-99
10-99
01-00
04-00
Balance
07-00
10-00
Imports
01-01
04-01
Exports
07-01
10-01
Euro-zone trade – previous 6 months – non seasonally adjusted data
bn euro
Graphic in PDF and Word format
EU15 trade – previous 6 months – non seasonally adjusted data
bn euro
Graphic in PDF and Word format
Main products – Euro-zone – non seasonally adjusted data
bn euro
Graphic in PDF and Word format
Main products – EU15 – non seasonally adjusted data
bn euro
Graphic in PDF and Word format
Main trading partners – Euro-zone – non seasonally adjusted data
bn euro
Graphic in PDF and Word format
Main trading partners – EU15 – non seasonally adjusted data
bn euro
Graphic in PDF and Word format
Member States’ total trade (intra-EU + extra-EU) – non seasonally adjusted data
bn euro
Graphic in PDF and Word format
Annex – Seasonally adjusted data
Seasonally adjusted series have been calculated using one harmonised methodology for all Member States. The
availability of seasonally adjusted series is an important improvement in the analysis of the external trade of the EU and
euro-zone as they give a complementary view of the monthly evolution of trade. Seasonally adjusted figures may not
match those published by Member States, due to differences in the raw data3, in the choice of seasonal adjustment model
and to the use of series in national currency or in ECU/euro.
Euro-zone trade – seasonally adjusted data
bn euro
Graphic in PDF and Word format
EU15 trade – seasonally adjusted data
bn euro
Graphic in PDF and Word format
Member States’ contribution to extra-EU15 trade – seasonally adjusted data
bn euro
Graphic in PDF and Word format
Seasonally adjusted data show that after growing throughout 1999 and 2000, EU and euro-zone trade, particularly imports,
decreased in 2001. Comparison of seasonally adjusted and raw data indicates that the peaks and troughs seen in recent
months in the EU and euro-zone non seasonally adjusted data were due to normal seasonal trading patterns.
Seasonally adjusted data
bn euro
100
Extra-eurozone trade
80
60
40
20
0
-20
01-99
04-99
07-99
10-99
01-00
04-00
Balance
07-00
10-00
Imports
01-01
04-01
07-01
10-01
07-01
10-01
Exports
Graph shows EUR11 up to December 2000, EUR12 from January 2001
bn euro
100
Extra-EU15 trade
80
60
40
20
0
-20
01-99
04-99
07-99
10-99
01-00
04-00
Balance
07-00
10-00
Imports
01-01
04-01
Exports