7.7 billion euros deficit in the euro zone's external trade balance

20^th February 2012

According to a Eurostat estimate published on 15th February the external trade deficit in 2011 totalled 7.7 billion euros in the euro zone and 152.8 billion in the EU. A year ago the deficits were around 7 billion euros higher in both cases. The energy bill with regard to Norway and Russia is notably a major factor in the deficit whilst the export of manufactured goods rose sharply (+70 billion in both cases). Germany, Ireland and the Netherlands are the countries with the highest surpluses, whilst the UK, France, Spain, Portugal and Greece all have very high deficits.

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