4.2 billion Euros foreign trade deficit for Eurozone

According to estimates by the Statistical Office of the EU (Eurostat), there was as foreign trade deficit amounting to 4.2 billion Euros in December 2007 in the Eurozone (EZ13). One year earlier, in December 2006, the EZ13 had generated a surplus of 2.4 billion. In November 2007 there had been a surplus of 3.0 billion Euros.

The reason for this deficit: in December 2007 exports fell by 2.5% as compared to November 2007 while imports increased by 0.7% as a consequence of the weakening performance of the US economy.

The foreign trade of the EU27 showed a similar development: according to first estimates there was a deficit of 17.9 billion Euros in December 2007 while in December 2006 the deficit had amounted to -10.1 billion Euros. In November 2007 this deficit amounted to -16.8 billion and to -12.3 billion in November 2006.

The situation in the Eurozone was more positive: In 2007 the Eurozone generated a trade surplus of 28.3 billion Euros as compared to a deficit of 9.3 billion in 2006. The EU27, on the other hand, once more registered a deficit of 185.7 billion in 2007 which, however, was smaller than in 2006 (-192.1 billion).

With regard to the situation in several member states in the period from January to November 2007 it turned out that Germany generated the biggest surplus (+184.8 billion Euros), followed by the Netherlands (+39.8 billion), Ireland (+27.2 billion), Belgium (+13.0 billion) and Sweden (+12.3 billion). The United Kingdom registered the biggest deficit (-124.4 billion), followed by Spain (-86.6 billion), France (-40.3 billion), Greece (-35.0 billion), Romania (-19.4 billion), Portugal (-17.2 billion) and Poland (-14.8 billion).

In December 2007 the situation was as follows: Germany generated the biggest trade surplus of 6.0 billion Euros (adjusted for season), followed by Sweden (+1.3 billion) and Ireland (+1.0 billion). The UK was once more the country with the highest deficit amounting to -5.6 billion Euros in December 2007. GERMAN

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