Oil weighs on euro-zone trade figures
The 11-nation euro-zone had an estimated trade surplus with the rest of the world of 3.3 billion euros ($2.8 billion) in September, compared with a 1.3-billion-surplus in September 1999, Eurostat, the EU's statistics branch, reported Monday.
Eurostat said that exports and imports had grown strongly across all main product groupings, and that the increase in oil prices was reflected in a 102-percent growth in the value of energy imports.
The revised August trade deficit was 0.5 billion euro, against a 2.5 billion surplus in August 1999.
Euro-zone trade recorded an 11.2 billion euro surplus for the first nine months of this year, compared with a 37.8 billion surplus in 1999, said Eurostat.
September estimates for the full EU-15 showed a 6.7-illion-euro deficit, compared with a 4.4 billion deficit in September 1999.
The revised EU-15 deficit for August was 8.2 billion euro, against a 2.9 billion deficit in August 1999.
The estimated EU-15 deficit for the first three quarters of 2000 was 64.2 billion, compared with a 14.2 billion deficit in 1999, said Eurostat.
The EU-15's trade flows grew strongly with its major partners, it said. Most notable were a 30-percent increase in exports to the Czech Republic, 33 percent to Russia, and 45 percent to Turkey.
Imports from the Czech Republic rose by 29 percent, from Poland by 32 percent, from China by 40 perecent, fron Norway by 60 percent and from Russia by 83 percent.
Germany had the largest estimated trade surplus in September with 36.9 billion euro, followed by Ireland with 18 billion.
Britain had the largest estimated deficit for September -- 42 billion euro -- followed by Spain with 25.2 billion and Greece with 12.3 billion.—AFP.
©--Agence France Presse.
© 2000 Mena Report (www.menareport.com)