EA April 2008 preliminary trade surplus: 2.3 bn euro

Eurostat released preliminary data for EU trade balance in April 2008:

The first estimate for the euro area (EA15) trade balance with the rest of the world in April 2008 gave a 2.3 bn euro surplus, compared with +2.0 bn in April 2007. The March 20082 balance was revised up to -1.5 bn from -2.3 bn prior, compared with +7.5 bn in March 2007. In April 2008 compared with March 2008, seasonally adjusted exports rose by 6.2% and imports by 3.6%.

The first estimate for the April 2008 extra-EU27 trade balance was a deficit of 15.4 bn euro, compared with -12.9 bn in April 2007. In March 20082, the balance was -20.8 bn, compared with -10.5 bn in March 2007. In April 2008 compared with March 2008, seasonally adjusted exports rose by 5.1% and imports by 1.4%.

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The strong euro currency does not have the long prognosticated negative impact on euro area trade balance just yet.

NSA data for March 2008 show negative export growth to the U.S. and Japan and flat growth to the U.K. Within member states export growth is negative in the U.K. and Ireland. U.S., U.K. and Ireland are nations where the housing market has rolled over and that seems to reflect on the general economy in these countries with somewhat negative trade data. Spain surprises with healthy export growth of about 5 percent on the month.

EA's trade deficit with China is still high at around 27 bn euro, but slightly lower on a monthly basis.


source: April 2008 Euro area external trade surplus 2.3 bn euro
Eurostat news release http://epp.eurostat.ec.europa.eu/pls/portal/docs/PAGE/PGP_PRD_CAT_PREREL/PGE_CAT_PREREL_YEAR_2008/PGE_CAT_PREREL_YEAR_2008_MONTH_06/6-17062008-EN-AP.PDF
read also: EA March 2008 preliminary trade deficit - 2.3 bn euro
Sunday, May 18, 2008
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