EU chemicals trade balance surplus with US falls by 4.9%

25 November 2011 12:31  [Source: ICIS news]

LONDON (ICIS)--The EUs chemicals trade balance surplus with the US in January-June 2011 fell 4.9% year on year, as imports and exports grew slightly during the six-month period, a statistics agency said on Friday.

Figures released by Eurostat, the statistics office of the EU, showed that the 27-member EU’s trade balance surplus with the US for chemical goods fell to €9.72bn ($13bn) between January and June, compared with a surplus of €10.2bn in the same period last year.

EU exports of chemical products to the US during the period increased by 2.5% year on year to €29.9bn, while imports grew by 6.4% to €20.2bn, Eurostat said.

With regards to overall trade, the US remained the EU's largest trading partner for both goods and services at the end of the first half of 2011, it said.

The EU trade surplus with the US increased from €31.2bn in the first six months of 2010 to €35.3bn in the same period of 2011.

“However, there has been a steady decline in the share of the US in total EU trade in goods over the last decade,” Eurostat added.

“While in 2000, the US accounted for 28% of total EU exports and 21% of imports, by 2010 these shares had fallen to 18% and 11% respectively,” it said.

EU trade in goods with the US (€m)


Exports

Imports

Balance

Jan-Jun 10

Jan-Jun 11

Jan-Jun 10

Jan-Jun 11

Jan-Jun 10

Jan-Jun 11

Chemicals

29,191

29,907

18,972

20,186

10,219

9,721

Total

113,835

128,839

82,666

93,575

31,169

35,264

($1 = €0.75)


By: Franco Capaldo
+44 (0)20 8652 3214



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