The first estimate for euro-zone trade with the rest of the world in October 2002 was an 8.7 billion euro surplus, against +10.1 bn in October 2001. The revised September 2002 balance was +9.0 bn, compared with +4.5 bn in September 2001. Euro-zone trade recorded a surplus of 84.9 bn euro for the first ten months of 2002, against +34.4 bn in 2001.
The first estimate for October 2002 extra-EU15 trade was a 0.2 bn euro surplus, compared with +3.4 bn in October 2001. In September 2002, there was a revised surplus of 0.6 bn, against a 2.8 bn deficit in September 2001. The EU15 recorded a surplus estimated at 3.3 bn in the first ten months of 2002 compared with a deficit of 45.0 bn in 2001. The figures come today from Eurostat, Statistical Office of the European Communities in Luxembourg.
EU15 January-September 2002 detailed results
The energy deficit decreased (-81.6 bn in January-September 2002 compared to -91.0 bn in January-September 2001), while the surplus for machinery and vehicles increased (+70.3 bn compared to +55.5 bn). The surplus in the chemicals sector also increased (+53.6 bn compared to +48.0 bn).
Growth in EU15 trade flows with its major partners was mixed. The largest falls were recorded in imports from Japan (-14%), the USA (-12%) and Norway (-7%), and in exports to Japan and Switzerland (both -6%). The most notable increases were in imports from the Czech Republic (+10%) and Turkey (+6%) and exports to Turkey (+16%), Russia (+13%), and China (+11%). Over the first nine months of 2002, China was the third largest EU trade partner, behind the United States and Switzerland but in front of Japan.
EU15 trade with the USA was characterized by an increase in the EU surplus (+46.4 bn in January-September 2002 compared to +29.8 bn in January-September 2001) while EU15 trade with Japan showed a decrease in the EU deficit (-19.2 bn compared to -25.2 bn). The EU15 trade deficit with China remained stable (-34.1 bn compared to -33.9 bn). The highest EU15 trade deficit in January-September 2002 was recorded with China and the highest surplus was registered with the USA.
Concerning the total trade of Member States, the largest surplus was observed in Germany (+94.9 bn euro), followed by Ireland (+28.8 bn). The United Kingdom registered the largest deficit (-49.4 bn), followed by Spain (-25.6 bn).