Luxembourg, 26/03/2001 (Agence Europe) - According to estimates published by Eurostat, the Euro zone and the European Union (EU 15) have recorded a deficit in the trade with the rest of the world in January. These figures confirm that trend towards a deterioration in the EU global trade balance noted last year.
In January 2001, the Euro zone recorded a external trade deficit of EUR 7.4 billion, while it had experienced a surplus of 0.2 billion last December. As for the EU 15, it recorded a deficit of EUR 14.3 billion in January, or double the deficit in December 2000 (6.5 billion).
Eurostat also indicates that, last year, the EU 15 recorded a deficit of some 84.1 billion (19 billion in 1999). The statistical office of the Communities attributes this result to the rise in oil prices: in 2000, the value of energy imports nearly doubled, and the rise in the energy deficit (of EUR 54.78 billion compared to 1999) is responsible for more than 85% of the deterioration in the total balance of trade. It remains that the trade by the Union with its main partners has significantly increased: the most significant rises concern exports toward Turkey, Russia, and China as well as imports from Russia, Norway, China and Poland. Union trade with the United States was characterised by an increase in the EU surplus, while trade with Japan was translated by a EU deficit. In 2000, the largest deficit was recorded with China and the largest surplus with the United States. All the Member States have seen a growth in the trade, Germany and Ireland in the lead. The United Kingdom, Spain and Greece have recorded the highest deficits. It must be noted that contrary to the EU 15, the Euro zone recorded a surplus in external trade in 2000 (12.6 billion against 51.2 billion in 1999).