EU 27 exports have little impact on trade deficit with Brazil as imports continue their six year climb

Between 2000 and 2008 the value of EU-27 imports from Brazil almost doubled, while export values, after a sharp fall between 2001 and 2003, more than doubled from the 2003 low point. However, in spite of this performance, the EU trade deficit widened consistently until a slight reduction in 2008. Less than half of the Member States posted a positive trade balance with Brazil in 2008 and, of the eight major trade partners, five posted deficits in excess of €1 billion; only one, Germany, posted a significant positive balance of €1.7 billion. For both imports and exports, only three Member States reported negative growth rates from 2000-2008. However, the highest growth rates came from countries with low trade values. Imports of food and drink, as well as crude materials, posted the highest values for 2008 with more than half of total imports. By far the largest export sector was in machinery and transport equipment, posting half the total export value for 2008.