Growth rate goods exports invariably high

24/11/2006 09:30

After correction for calendar effects, the volume of goods exports was more than 9 percent larger in September 2006 than in September 2005. The volume of imported goods was up almost 10 percent.

In the first nine months of 2006 the volume of goods exports was 8.5 percent larger than in the same period of 2005. This puts the volume increase of exports 1.5 percent points above that for the whole of 2005. The volume increase for imports in the first nine months of 2006 was 10 percent, 3.5 percent points higher than for the whole of 2005.

With a value of 27.3 billion euro, exports were 8 percent higher in September than twelve months previously. Imports were 8 percent higher too at 24.2 billion euro. This resulted in a trade surplus of 3.1 billion euro. September 2006 had one working day less than September last year. The effect on the growth of import and export value is approximately 3 percentage points.

Prices of imports and exports rose by about 1.5 percent in the space of one year. Lower oil prices result in more modest price increases than in the past months. In September, the price of a barrel of North Sea Brent oil was almost the same as twelve months ago. Since March 2004, oil prices have risen almost continually.

Trade with EU countries increased more strongly than trade with countries outside the EU. The value of imports from EU countries was 13.4 billion euro, a 10 percent increase on last year. The value of exports to EU countries increased by 8 percent to 21.0 billion euro. The value of imports from non-EU countries grew by 6 percent to 10.8 billion euro. Exports to non-EU countries grew by 7 percent to 6.3 billion euro compared to September 2005. 

In September, trade in manufactured products (e.g. leather, rubber and wood products, paper, yarns, iron or steel) increased sharply. Imports grew by 20 percent and exports by 22 percent.

Goods exports (volume)

Goods exports (volume)