Trade surplus up production down in Eurozone

Johannes Hahn, Member of the EC in charge of Regional Policy (first from right), embarked on a visit to Poland. During his stay, he visited a Polish company, specializing in the production of industrial electronic solutions in the sectors of gas, heating industry and water.

Johannes Hahn, Member of the EC in charge of Regional Policy (first from right), embarked on a visit to Poland. During his stay, he visited a Polish company, specializing in the production of industrial electronic solutions in the sectors of gas, heating industry and water.

Eurostat graph.Click to enlarge

Eurostat graph.
Click to enlarge

Despite the apparent slow-down of the world economy and the drop of external demand for Eurozone products the first estimates by Eurostat, the EU statistical service, show a hefty trade surplus of €13.7 billion for the 17 countries single money zone in November 2012.

Not all news however was positive for Eurozone in November. Industrial production fell by 0.3% in both the euro area (EU17) and the EU27, according to estimates released by the same source. In October industrial production had also decreased by 1.0% and 0.8% respectively in Eurozone and the EU27. This last development though was highly expected. Practically all economic analysts were predicting a slow-down in the Eurozone economy during the last quarter of last year. Let’s see the details on both those macroeconomic developments.

Trade surplus

Always according to Eurostat, the first estimate for the euro area (EU17) trade balance in goods with the rest of the world in November 2012 gave a €13.7bn euro surplus, compared with a smaller but still important positive outcome of €4.9bn in November 2011. The October 2012 balance was in favour of Eurozone by €9.3bn, compared with a deficit of €0.7bn in October 2011. In November 2012 compared with October 2012 exports increased by 0.8% while imports fell by 1.5%.

As for the ten month period from January to October 2012 the EU27 deficit for energy increased to €347bn compared to a deficit of €319.5bn in the same period of 2011. On the contrary the surplus in trade of manufactured goods increased during the 1.1.2012 to 31.10.2012 period to €294.1bn, compared with an also positive balance of €196.8bn during the same time interval of 2011.
The most noticeable positive developments were recorded for exports to South Korea (+18%), Russia (+16%), Japan (+15%), the USA (+14%) and Brazil (+13%).

As usual the largest surplus in total trade was observed in Germany with €157.7bn in January-October 2012, followed by positive balances in the Netherlands with €41bn and Ireland with €35.6bn. The United Kingdom registered the largest deficit with €139.8bn followed by France with €69.1bn deficit.

Industrial production

Coming to the front of industrial production in Eurozone it fell by 0.3% in November 2012 compared with October of the same year. In October 2012 production also decreased by 1.0%. On a yearly basis industrial production losses were much more noticeable. In November 2012 compared with November 2011, industrial production dropped by 3.7% in the euro area and by 3.3% in the EU27.

 

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

the European Sting Milestones

Featured Stings

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

Under fire, UN refugee agency evacuates 135 detained in Libya to Niger

EP Group leaders on Brexit: “the agreement is not open to renegotiation”

Chart of the day: This is what violence does to a nation’s GDP

“Beating pollution for our planet”, a Sting Exclusive by Mr Erik Solheim, the Executive Director of the United Nations Environment

Give a chance to the brothers of Ailan: reception of refugees in Greece

Changing world of work needs new jobs strategy

The challenges of the universalization of the health system in Brazil. What can we change?

European Banking Union: no one is perfect

What the next 20 years will mean for jobs – and how to prepare

Outgoing UN official praises Iraq’s ‘exemplary peaceful transfer of power’ at the top

OECD welcomes French plans to increase and better target foreign aid

What brands get wrong about China – and how to put it right

Scientists have created a new kind of plastic that could be infinitely recyclable

I have a rare disease. This is my hope for the future of medicine

Greece: The new government of Alexis Tsipras shows its colors

They won this year’s Nobel for economics. Here’s why their work matters

We need to deep clean the oceans. Here’s how to pay for it

Multiculturalism, social diversity and tolerance

Youth not prioritised in new Commission

GSMA Mobile 360 Series – Europe – 14 June 2016

Technology is delivering better access to financial services. Here’s how

European Parliament the most trusted EU institution

Lack of investment and ambition means Youth Guarantee not reaching potential

World Health Organisation and young doctors: is there any place for improvement?

Here are six bold ideas to accelerate sustainable energy innovation

Deepening Europe’s Economic and Monetary Union: Commission takes stock of progress

Future of Insurance Claims in Focus at Fourth Annual Connected Claims Europe Summit

WhatsApp to face scrutiny from EU regulators task force over data sharing with Facebook

This new way of understanding disease is changing medicine

Malta and Slovakia: MEPs warn of lack of judicial independence and corruption

G20 LIVE: Fact Sheet from the G20 Leaders Summit and key outcomes (G20 Antalya 2015 Summary)

Civilians ‘continue to pay highest price’ in Ukraine conflict, with peace prospects losing ‘momentum’

Why AI will make healthcare personal

Independent UN rights expert calls for compassion, not sanctions on Venezuela

“We are in Europe, but not of it”, from Churchill to Cameron: British Exceptionalism now threatens the entire EU Edifice

Bangladesh elections: Hold those responsible accountable for ‘violent attacks and intimidation’

UN human rights chief denounces grave ‘assaults’ on fundamental rights of Palestinian people

The untold story of who caused and who pays for the economic crisis

How painful is the Greek tragedy for the Germans?

Monday’s Daily Brief: WFP mulls ‘last resort’ Yemen aid suspension, top peacekeeping awardee announced, abuzz over Bee Day, Ebola threat ‘very high’

Trust links up supply chains. How do you establish it in the digital era?

Wind farms now provide 14% of EU power – these countries are leading the way

Erasmus+: an expected budget of €3 billion to be invested in young Europeans and to help create European Universities in 2019

ICC Appeals Chamber acquits former Congolese Vice President Bemba from war crimes charges

Macron in St. Petersburg didn’t oppose Trump on Iran, in Putin’s presence

‘More time’ agreed for buffer zone, to spare three million Syrian civilians in Idlib

Antitrust: Commission fines Google €1.49 billion for abusive practices in online advertising

We can’t tell if we’re closing the digital divide without more data

Nordic noir: The unhappiness epidemic affecting young people in the world’s happiest countries

Youth Parliament to finalise millennials´ priorities for future of the EU

Thousands risk lives fleeing fighting in Syria’s last ISIL stronghold

Will the three major parties retain control of the new EU Parliament?

Security Council hails ‘historic and significant’ joint peace declaration by Ethiopia and Eritrea

JADE Spring Meeting 2017 – day 3: JADE Academy trainings, networking session and gala dinner – Excellence Awards winners revealed

Mobile young people create the European labour market of tomorrow

An FTA between EU-US to hurt South Korea

Commission launches debate on more efficient decision-making in EU social policy

Why business can no longer turn a blind eye to poor vision

ECB offers plenty and cheap liquidity to support growth in all Eurozone countries

We need to bin disposable items for good. Here are 5 ways to do it

More Stings?

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s