The Euro Area's Trade Analysis

The EU11 member states officially use the euro and become the euro zone in January.InJune, 2000, Greece entered the euro area, and became the 12th euro-zone country. 2002, euro notes has officially entered the circulation field, the Euro-zone countries withdraw from circulation and the original currency no longer in use. Undoubtedly, the EU have a significant impact on development to the euro itself and the whole of Europe, and even the world economy, international finance and international trade. The full text of the euro area as a research center, compares to the euro zone before and after the formation of trade, analysis of trade in the euro area, especially in the European Union on the basis of the three circles: the euro area, the "old EU", "new EU", Analysis of the euro zone and then analysis the world trade. Based on these analysis, combining with the China trade relationship with Europe, the European single currency has a significant impact world trade and commodities.The establishment of a single currency in 1999 has increase in intra-trade, the euro-zone countries have the rapid growth of trade. Commodity structure of the euro area shows characteristics: technology and capital-intensive products have a large proportion of trade in both countries, trade division of the structure has a strong similarity; Countries have very strong characteristics of intra-industry trade and has shown complementary industries.Currency area with the"old EU's total foreign trade volume significantly increased, countries have a strong consistency in terms of geographical location, trade, product structure and so on, but the proportion has dropped, trade diversion effect is certain existed, while the new European Union 10 country's trade creation effects are extremely obvious.Euro area increased the trade proportion in total world trade, but there is trade diversion effect. The total exports and total imports rised steadily after1999. China's total trade with the area has increased, imports increasing year by year, the state has been in surplus and there is gradually enhanced trend. On the commodity structure, the euro area has the advantage of China's exports in the capital and technology-intensive mechanical and electrical and transport equipment, chemical products and related areas, labor-intensive textile and garment industry, while China has a strong competitive advantage in the capital-and technology-intensive mechanical and electrical transport equipment industry.