EU energy deficit up

The European Union's deficit for energy increased significantly to 422.5 billion euro in 2012 compared with 388.2 billion euro in 2011, Eurostat, EU's statistical office reported Monday.  EU exports to most of its major partners grew in 2012 compared with 2011, except for India where it fell by 5 % and Switzerland where it dropped by 4%.  The most notable increases were recorded for exports to South Korea (+16%), Russia (+14%) and Japan (+13%).  As regards EU imports, the largest increases were recorded for imports from Switzerland (+12%), the USA, Russia and Norway (all +7%), and the largest falls with Japan (minus 8%), India (minus 6%) and Brazil minus 5%).  The EU trade surplus increased with the USA to 85.9 bn euro in 2012 compared with 72.2 bn in 2011 and with Turkey to 27.3 bn compared with 24.9 bn, but fell with Switzerland to 28.9 bn compared with 46.4 bn.  The EU trade deficit declined with China to 145.9 bn compared with 157.4 bn and with Japan to 8.3 bn compared with 20.2 bn for the same period.  The EU trade deficit with Russia remained nearly stable at 90.1 bn compared with 90.8 bn, and rose with Norway to 50.7 bn compared with 47.1 bn.  The first estimate for January 2013 , EU trade balance with the rest of the world was a 16.5 bn euro deficit, compared with 24.9 bn deficit in January 2012, said Eurostat.