9th ASEM Summit ASEM partners accounted for 43% of EU27 imports and 31% of exports in the first half of 2012

29-10-2012 — /europawire.eu/ — Between 2000 and 2011, the share in EU27 international trade in goods of the 19 partner countries1 taking part in the Asia-Europe Meeting (ASEM) increased steadily. From 2000 to 2011, the share of the ASEM partners in EU27 exports rose from 22% to 30%, and in imports from 36% to 44%. The EU27 registered a trade deficit with the ASEM partners during the whole period, growing from 174 billion euro in 2000 to a peak of 300 bn in 2008, before falling to 280 bn in 2011.

On the occasion of the 9th ASEM Summit, which will take place on 5 and 6 November 2012 in Laos, Eurostat, the statistical office of the European Union, issues data on international trade in goods between the 27 Member States of the EU and the 19 partner countries taking part in ASEM.

There was continued growth in international trade in goods between the EU27 and the ASEM partners in the first half of 2012, with exports rising from 226 bn euro in the first half of 2011 to 255 bn in the first half of 2012, and imports up from 373 bn to 379 bn. The trade deficit continued to decrease in this period, from 146 bn to 124 bn. In the first half of 2012, the ASEM partners accounted for 31% of EU27 exports of goods and 43% of imports in the EU27.

Between 2000 and 2011, EU27 trade increased with most of the individual ASEM partners. Among the largest ASEM trading partners, the highest growth in this period was registered with China, Russia and India and the largest decrease with Japan.

Germany: more than one third of exports to ASEM partners and one fifth of imports

Among the EU27 Member States, Germany (88 bn euro or 35% of the total) was by far the largest exporter to the ASEM partners in the first half of 2012, followed by France (28 bn or 11%), the United Kingdom (26 bn or 10%) and Italy (20 bn or 8%). Germany (77 bn or 20%) was also by far the largest importer from the ASEM partners, followed by the Netherlands2 (63 bn or 17%), the United Kingdom (45 bn or 12%), France (32 bn or 8%) and Italy (31 bn or 8%). The largest deficits in the first half of 2012 were registered by the Netherlands2 (-45 bn), the United Kingdom (-19 bn), Austria (-12 bn), Italy (-11 bn) and Spain (-10 bn). The highest surpluses in trade with the ASEM partners were recorded by Germany (+11 bn) and Ireland (+1 bn).

China and Russia: half of EU27 exports to ASEM and two thirds of imports

Among the ASEM partners, China (73 bn euro or 29% of the total) was the leading destination for EU27 exports in the first half of 2012, followed byRussia (59 bn or 23%), Japan (27 bn or 11%), India (19 bn or 8%) and South Korea (18 bn or 7%). The leading source of EU27 imports from theASEM partners was also China (140 bn or 37%), followed by Russia (107 bn or 28%) and Japan (33 bn or 9%). The highest EU27 deficits in trade with the ASEM partners in the first half of 2012 were recorded with China (-68 bn), Russia (-48 bn), Japan and Vietnam (both -6 bn) and the largest surpluses with Australia (+8 bn) and Singapore (+5 bn).

EU27 Member States’ international trade in goods with the ASEM partners

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EU27 international trade in goods with the ASEM partners by product

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EU27 international trade in goods with the ASEM partners

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* Excluding Hong Kong

EU27 international trade in goods with ASEM partners

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• The countries covered in this news release are the 19 partner countries which were members of the Asia-Europe Meeting (ASEM) at the time of this release: China, India, Japan, Mongolia, Pakistan, South Korea, Russia, Australia, New Zealand and the 10 members of ASEAN (the Association of Southeast Asian Nations): Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. Data for China presented in this news release exclude Hong Kong.
• Dutch imports and therefore the trade deficit are over-estimated because of the “Rotterdam effect” where goods destined for the rest of the EU arrive, and are therefore recorded in harmonised EU external trade statistics, in Dutch ports. This then has a positive effect on the external trade balances with the ASEM partners of those Member States to which the goods are re-exported as these shipments would be recorded as intra-EU trade with the Netherlands rather than extra-EU trade with the ASEM partners. To a lesser extent, Belgian trade figures are similarly over-estimated.
• Machinery and vehicles includes power generating and industrial machinery, computers, electric and electronic parts and equipment, road vehicles and parts, ships, airplanes and railway equipment.

Other manufactured articles include leather, rubber, wood, paper, textiles, metals, building fixtures and fittings, furniture, clothes, shoes and accessories, scientific instruments, clocks, watches and cameras.

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