The trade balance is calculated as the difference between exports and imports of goods classified under SITC section 3, “Mineral fuels, lubricants and related materials”, with respect to its corresponding “rest of the world”:
- for the EU aggregate, trade with non-EU countries (extra-EU);
- for the euro area, trade with non-euro area countries (extra-EA);
- for individual Member States, trade with both intra- and extra-EU partners.”
The indicator is expressed as percentage of GDP (according to ESA 2010 transmission programme).