EU posts €15bn surplus in foreign trade

The EU trade in goods balance with the rest of the world in May 2013 was a 15.8 bn euro surplus, compared with a deficit of 4. 9 bn in May 2012. The April 2013 balance was a surplus of 14.1 bn, compared with a surplus of 3.3 bn in April 2012, official statistics showed. The euro area trade in goods balance with the rest of the world in May 2013 gave a 15.2 bn euro surplus, compared with a surplus of 6.6 bn in May 2012. In April 2013 the balance was a surplus of 8.8 bn, compared with a deficit of 13. 4 bn in April 2012. The figures were released Tuesday by Eurostat, the EU's statistical office. The EU deficit for energy decreased to 127.9 bn euro in January-April 2013 compared with a deficit of 146.6 bn in January-April 2012, while the surplus for manufactured goods increased to 128.3 bn compared with 102.7 bn for the same period. EU imports from most of its major partners fell in January-April 2013 compared with January-April 2012. The most notable decreases were recorded for imports from Norway (down 16 percent), Japan (down 14 percent) and Brazil (down 11 percent). EU exports to most of its major partners grew in January-April 2013 compared with January-April 2012. The largest increase was recorded for exports to Switzerland (up 25 percent). Meanwhile Eurostat reported that Euro area annual inflation was 1.6 percent in June 2013, up from 1.4 percent in May. A year earlier, the rate was 2.4 percent. EU annual inflation was 1.7 percent in June 2013, up from 1.6 percent in May. A year earlier the rate was 2.5 percent.