The FINANCIAL — The first estimate for the euro area (EA18) trade in goods balance with the rest of the world in May 2014 gave a €15.4 billion surplus, compared with +€14.6 bn in May 2013. The April 20142 balance was also +€15.4 bn, compared with +€14.2 bn in April 2013. In May 2014 compared with April 2014, seasonally adjusted exports rose by 0.6% and imports by 0.5%, according to Eurostat, the statistical office of the European Union.
The first estimate for the May 2014 extra-EU281 trade balance was a €0.6 bn surplus, compared with +€15.0 bn in May 2013. In April 20142 the balance was +€1.0 bn, compared with +€8.6 bn in April 2013. In May 2014 compared with April 2014, seasonally adjusted exports rose by 0.5% and imports by 1.4%.
EU28 detailed results for January to April 2014
The EU28 deficit for energy decreased (-€115.2 bn in January-April 2014 compared with -€127.5 bn in January-April 2013), as did the surplus for machinery and vehicles (+€79.7 bn compared with +€89.1 bn), according to Eurostat.
The highest increases in EU28 exports were registered with China (+9% in January-April 2014 compared with January-April 2013) and South Korea (+5%), and for EU28 imports with South Korea (+9%), Switzerland and Turkey (both +6%). The most notable decreases were recorded for exports to Switzerland (-15%), Russia and India (both -11%), and for imports from Russia (-9%) and Brazil (-8%).
The EU28 trade surplus increased with the USA (+€32.1 bn in January-April 2014 compared with +€31.0 bn in January-April 2013), but decreased with Switzerland (+€16.5 bn compared with +€27.3 bn) and Turkey (+€6.3 bn compared with +€9.0 bn). The EU28 trade deficit fell with China (-€41.3 bn compared with -€42.3 bn) and Russia (-€30.8 bn compared with -€33.2 bn) and increased slightly with Norway (-€13.9 bn compared with -€13.6 bn).
Concerning the total trade of Member States, the largest surplus was observed in Germany (+€66.0 bn in January-April 2014), followed by the Netherlands (+€21.2 bn), Ireland (+€10.6 bn) and Italy (+€10.4 bn). The United Kingdom (-€38.8 bn) registered the largest deficit, followed by France (-€24.0 bn), Spain (-€8.2 bn) and Greece (-€7.1 bn), according to Eurostat.
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