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EU foreign trade: it's time to attack the recovery

The latest estimates from the EU statistical office signal constant improvements in the trade balance, a factor which must be seen as a stimulus to implement the reforms necessary to catch the train of economic recovery.

EU foreign trade: it's time to attack the recovery

If you look at stime of August concerning the trade of goods with the rest of the world, the Eurozone recorded a surplus of 7,1 billion euros, against 4,6 billion in the same period of 2012. Furthermore, compared to the previous month, seasonally adjusted exports increased by 1%, while imports by 0,2%. At the same time during the month of July the extra-EU trade balance recorded positive balances of 10,3 billion (1,2 billion in July 2012), whose seasonally adjusted exports increased by 0,3% while imports decreased by 1,1%.

Positive signals also come from the energy deficit (-221,7 billion euros in the period January-July 2013 compared to -244,0 billion in the period January-July 2012), while the surplus of manufactured goods increased (233,3 billion against 200,3 billion) .

They then decreased EU imports from major partners during the first six months of this year compared to the same period in 2012, see Japan (-17%), Brazil (-14%), Norway (-11%) and South Korea (-9%), except for Turkey (+4%) and India (+1%). Exports to Switzerland (+33%) and Turkey (+7%) are growing, while the most significant declines were recorded for the USA, Japan and India (-3%). In the period considered the EU trade surplus appears to have increased significantly with Switzerland (50,1 billion against 23,5 billion) and more moderately with the USA (52,5 billion against 49,4 billion), Turkey (17,4 billion against 15,4 billion) and the Brazil (4,5 billion against 0,4 billion). The EU trade deficit instead decreased against China (-72,9 billion against -81,4 billion), Russia (-51,0 billion against -53,2 billion), Norway (-24,2 billion against -32,0 .1,3 bn) and Japan (-6,9 bn versus -XNUMX bn) .

From the point of view of the member countries, the largest positive balances were observed in Germany (114,4 billion), followed by the Netherlands (+32,7 billion), Ireland (+22,3 billion), Italy (+18,3 billion) and Belgium (+10,9 .44,2 billion). France (-38,0 billion), the United Kingdom (-11,1 billion) and Greece (-XNUMX billion) continue on the deficit path.

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