STAT/13/25
15 February 2013
First estimate for 2012
Euro area international trade in goods surplus of 81.8 bn euro
104.6 bn euro deficit for EU27
The first estimate for the euro area1 (EA17) trade in goods balance with the rest of the world in December 2012 gave a 11.7 bn euro surplus, compared with +8.0 bn in December 2011. The November 20122 balance was +13.0 bn, compared with +4.9 bn in November 2011. In December 2012 compared with November 2012, seasonally adjusted exports fell by 1.8% and imports by 3.0%. These data3 are released by Eurostat, the statistical office of the European Union.
The first estimate for the December 2012 extra-EU271 trade in goods balance was a 0.7 bn euro deficit, compared with -0.2 bn in December 2011. The November 20122 balance was -1.9 bn, compared with -9.3 bn in November 2011. In December 2012 compared with November 2012, seasonally adjusted exports decreased by 1.9% and imports by 1.6%.
During 2012, euro area trade in goods recorded a surplus of 81.8 bn euro, compared with -15.7 bn in 2011. The EU27 recorded a deficit of 104.6 bn in 2012, compared with -162.7 bn in 2011.
EU27 detailed results for January to November 2012
The EU27 deficit for energy increased (-388.6 bn euro in January-November 2012 compared with -354.6 bn in January-November 2011), as did the surplus for manufactured goods (+330.8 bn compared with +224.9 bn).
EU27 exports to most of its major partners grew in January-November 2012 compared with January-November 2011, except for India (-5%) and Switzerland (-3%). The most notable increases were recorded for exports to South Korea (+17%), Russia and Japan (both +15%), the USA (+13%) and Brazil (+11%). As regards EU27 imports, the pattern was mixed. The largest increases were recorded for imports from Switzerland (+14%), Norway (+9%) and the USA (+8%), and the largest falls with India and Japan (both -7%).
The EU27 trade surplus increased with the USA (+80.2 bn euro in January-November 2012 compared with +64.6 bn in January-November 2011) and Turkey (+25.3 bn compared with +22.9 bn), but fell with Switzerland (+25.8 bn compared with +41.9 bn). The EU27 trade deficit declined with China (-135.3 bn compared with -146.9 bn), Russia (-81.2 bn compared with -83.3 bn) and Japan (-8.2 bn compared with -19.1 bn), but rose with Norway
(-46.7 bn compared with -42.1 bn).
Concerning the total trade of Member States, the largest surplus was observed in Germany (+174.6 bn euro in January-November 2012), followed by the Netherlands (+46.0 bn), Ireland (+39.9 bn) and the Czech Republic (+12.1 bn). The United Kingdom (-152.9 bn) registered the largest deficit, followed by France (-75.2 bn), Spain
(-30.0 bn) and Greece (-19.0 bn).
EA17 trade - non seasonally adjusted data bn euro
Flows | Dec 11 | Dec 12 | Growth | Nov 11 | Nov 12 | Growth | Jan-Dec 11 | Jan-Dec 12 | Growth | |||
Extra-EA17 exports | 148.0 | 143.4 | -3% | 155.8 | 164.0 | r | 5% | 1 740.4 | 1 868.6 | 7% | ||
Extra-EA17 imports | 140.0 | 131.7 | -6% | 150.9 | 150.9 | r | 0% | 1 756.1 | 1 786.8 | 2% | ||
Extra-EA17 trade balance | 8.0 | 11.7 | 4.9 | 13.0 | r | -15.7 | 81.8 | |||||
Intra-EA17 dispatches4 | 124.4 | 115.5 | -7% | 139.8 | 139.9 | r | 0% | r | 1 619.1 | 1 613.5 | 0% | |
EU27 trade - non seasonally adjusted data bn euro
Flows | Dec 11 | Dec 12 | Growth | Nov 11 | Nov 12 | Growth | Jan-Dec 11 | Jan-Dec 12 | Growth | |||
Extra-EU27 exports | 137.9 | 132.6 | -4% | 139.0 | 146.6 | 5% | 1 558.9 | 1 686.2 | 8% | |||
Extra-EU27 imports | 138.0 | 133.3 | -3% | 148.4 | 148.5 | r | 0% | 1 721.7 | 1 790.8 | 4% | ||
Extra-EU27 trade balance | -0.2 | -0.7 | -9.3 | -1.9 | r | -162.7 | -104.6 | |||||
Intra-EU27 dispatches4 | 215.1 | 201.5 | -6% | 245.3 | 247.1 | r | 1% | 2 804.8 | 2 822.1 | 1% | ||
r: revised
The euro area (EA17) consists of Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.
The EU27 includes Belgium, Bulgaria, the Czech Republic, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland, Sweden and the United Kingdom.
Compared with News Release 7/2013 of 15 January 2013, the trade balance for November 2012 has been revised from +13.7 bn euro to +13.0 bn for the EA17 and from -1.7 bn to -1.9 bn for the EU27.
This News Release is based on data available on 12 February 2013. These are provisional figures based on information provided by Member States. They are subject to frequent revision for up to two years after the month in question. Furthermore, national concepts may differ from the harmonised methodology used by Eurostat, leading to differences between figures in this release and those published nationally, both for raw data and for seasonally adjusted series.
Since the introduction of Intrastat for intra-EU trade on 1 January 1993, the value of dispatches has been consistently higher than that of arrivals. In theory, as dispatches are declared FOB and arrivals CIF, the value of arrivals should be slightly higher than that of dispatches. Eurostat uses dispatches as the more reliable measure of total intra-EU trade as, at aggregated levels, total dispatches has better coverage than total arrivals. Due to this divergence in intra-EU trade, and to the difficulties of interpreting figures in absolute terms at the level of individual Member States, trade balances for individual Member States must be interpreted with caution. The same caution applies to the trade balance of the euro area, which includes some intra-EU trade.
Issued by: Eurostat Press Office Tim ALLEN Tel: +352-4301-33 444 | For further information on data: Gilberto GAMBINI Tel: +352-4301-35 806 |
Eurostat news releases on the internet: http://ec.europa.eu/eurostat
Selected Principal European Economic Indicators: http://ec.europa.eu/eurostat/euroindicators
EA17 trade - previous 6 months - non seasonally adjusted data bn euro
Flows | May 12 | Jun 12 | Jul 12 | Aug 12 | Sep 12 | Oct 12 | ||||||
Extra-EA17 exports | 159.0 | r | 161.9 | r | 162.3 | r | 152.1 | r | 153.5 | r | 169.4 | r |
Extra-EA17 imports | 152.4 | r | 149.3 | r | 148.7 | r | 147.8 | r | 145.1 | r | 160.4 | r |
Extra-EA17 trade balance | 6.6 | r | 12.7 | r | 13.6 | r | 4.2 | r | 8.3 | r | 9.0 | r |
Intra-EA17 dispatches | 138.2 | 139.2 | r | 135.5 | 117.6 | r | 134.3 | 144.3 | r | |||
EU27 trade - previous 6 months - non seasonally adjusted data bn euro
Flows | May 12 | Jun 12 | Jul 12 | Aug 12 | Sep 12 | Oct 12 | ||||||
Extra-EU27 exports | 145.2 | r | 146.3 | r | 149.2 | r | 139.7 | r | 137.2 | 151.4 | r | |
Extra-EU27 imports | 150.1 | r | 147.6 | r | 147.6 | r | 153.9 | r | 151.0 | r | 161.3 | r |
Extra-EU27 trade balance | -4.9 | r | -1.3 | r | 1.7 | r | -14.3 | r | -13.7 | r | -10.0 | r |
Intra-EU27 dispatches | 241.3 | r | 240.7 | r | 233.8 | 214.5 | r | 236.6 | r | 255.2 | r | |
r: revised
Main products - EA17 - non seasonally adjusted data bn euro
| ||||||||||||||||||||||||
Primary goods: | 240.5 | 272.0 | 13% | 568.2 | 615.0 | 8% | -327.7 | -343.0 | ||||||||||||||||
Food & drink | 110.1 | 119.9 | 9% | 96.3 | 99.7 | 3% | 13.7 | 20.3 | ||||||||||||||||
Raw materials | 41.4 | 44.2 | 7% | 82.7 | 78.2 | -5% | -41.3 | -34.0 | ||||||||||||||||
Energy | 89.0 | 107.9 | 21% | 389.2 | 437.1 | 12% | -300.2 | -329.2 | ||||||||||||||||
Manufactured goods: | 1 307.1 | 1 404.6 | 7% | 1 020.9 | 1 010.5 | -1% | 286.1 | 394.0 | ||||||||||||||||
Chemicals | 268.2 | 287.5 | 7% | 166.4 | 172.9 | 4% | 101.7 | 114.6 | ||||||||||||||||
Machinery & vehicles | 650.4 | 706.7 | 9% | 462.9 | 461.7 | 0% | 187.5 | 245.0 | ||||||||||||||||
Other manuf’d goods | 388.5 | 410.4 | 6% | 391.6 | 376.0 | -4% | -3.1 | 34.4 | ||||||||||||||||
Other | 44.9 | 48.6 | 8% | 27.0 | 29.6 | 10% | 17.9 | 19.0 | ||||||||||||||||
Total | 1 592.5 | 1 725.2 | 8% | 1 616.1 | 1 655.2 | 2% | -23.7 | 70.0 | ||||||||||||||||
Main products – EU27 - non seasonally adjusted data bn euro
| ||||||||||||||||||||||||
Primary goods: | 214.4 | 248.2 | 16% | 610.1 | 662.3 | 9% | -395.7 | -414.1 | ||||||||||||||||
Food & drink | 81.3 | 91.1 | 12% | 83.7 | 85.4 | 2% | -2.5 | 5.7 | ||||||||||||||||
Raw materials | 41.1 | 44.1 | 7% | 79.7 | 75.4 | -5% | -38.6 | -31.3 | ||||||||||||||||
Energy | 92.0 | 113.0 | 23% | 446.7 | 501.5 | 12% | -354.6 | -388.6 | ||||||||||||||||
Manufactured goods: | 1 148.9 | 1 259.0 | 10% | 924.0 | 928.2 | 0% | 224.9 | 330.8 | ||||||||||||||||
Chemicals | 234.8 | 256.8 | 9% | 143.2 | 150.4 | 5% | 91.7 | 106.3 | ||||||||||||||||
Machinery & vehicles | 590.5 | 649.8 | 10% | 407.7 | 417.4 | 2% | 182.9 | 232.4 | ||||||||||||||||
Other manuf’d goods | 323.5 | 352.5 | 9% | 373.1 | 360.4 | -3% | -49.6 | -8.0 | ||||||||||||||||
Other | 57.7 | 46.4 | -20% | 49.5 | 67.0 | 35% | 8.2 | -20.6 | ||||||||||||||||
Total | 1 421.1 | 1 553.6 | 9% | 1 583.6 | 1 657.5 | 5% | -162.6 | -103.9 | ||||||||||||||||
Main trading partners - EA17 - non seasonally adjusted data bn euro
| ||||||||||||||||||||||||
United Kingdom | 196.8 | 211.9 | 8% | 153.0 | 154.4 | 1% | 43.8 | 57.5 | ||||||||||||||||
USA | 183.0 | 207.2 | 13% | 129.1 | 139.2 | 8% | 53.9 | 68.1 | ||||||||||||||||
China | 105.3 | 111.1 | 6% | 201.9 | 197.1 | -2% | -96.6 | -86.0 | ||||||||||||||||
Russia | 73.4 | 84.0 | 15% | 127.1 | 131.7 | 4% | -53.7 | -47.7 | ||||||||||||||||
Switzerland | 100.0 | 107.9 | 8% | 75.0 | 74.9 | 0% | 25.0 | 33.0 | ||||||||||||||||
Poland | 83.8 | 83.3 | -1% | 64.6 | 66.2 | 2% | 19.1 | 17.1 | ||||||||||||||||
Czech Republic | 59.9 | 61.1 | 2% | 69.6 | 70.6 | 1% | -9.7 | -9.5 | ||||||||||||||||
Sweden | 55.8 | 54.8 | -2% | 48.8 | 48.4 | -1% | 7.0 | 6.4 | ||||||||||||||||
Japan | 36.0 | 41.3 | 15% | 48.6 | 45.2 | -7% | -12.6 | -3.9 | ||||||||||||||||
Turkey | 52.2 | 54.7 | 5% | 32.3 | 31.1 | -4% | 19.9 | 23.6 | ||||||||||||||||
Main trading partners – EU27 - non seasonally adjusted data bn euro
| ||||||||||||||||||||||||
USA | 240.5 | 270.9 | 13% | 175.9 | 190.7 | 8% | 64.6 | 80.2 | ||||||||||||||||
China | 124.1 | 132.8 | 7% | 271.1 | 268.1 | -1% | -146.9 | -135.3 | ||||||||||||||||
Russia | 99.2 | 114.5 | 15% | 182.5 | 195.7 | 7% | -83.3 | -81.2 | ||||||||||||||||
Switzerland | 128.2 | 123.9 | -3% | 86.3 | 98.1 | 14% | 41.9 | 25.8 | ||||||||||||||||
Norway | 43.0 | 46.1 | 7% | 85.1 | 92.8 | 9% | -42.1 | -46.7 | ||||||||||||||||
Turkey | 67.1 | 69.4 | 3% | 44.2 | 44.2 | 0% | 22.9 | 25.3 | ||||||||||||||||
Japan | 44.8 | 51.4 | 15% | 63.9 | 59.6 | -7% | -19.1 | -8.2 | ||||||||||||||||
Brazil | 32.6 | 36.3 | 11% | 36.2 | 34.6 | -4% | -3.7 | 1.7 | ||||||||||||||||
South Korea | 29.3 | 34.1 | 17% | 33.5 | 35.4 | 6% | -4.2 | -1.3 | ||||||||||||||||
India | 36.9 | 35.0 | -5% | 36.9 | 34.5 | -7% | -0.1 | 0.5 | ||||||||||||||||
Member States’ total trade (intra-EU + extra-EU) - non seasonally adjusted data bn euro
| ||||||||||||||||||||||||
Belgium | 315.4 | 321.7 | 2% | 308.1 | 312.9 | 2% | 7.3 | 8.8 | ||||||||||||||||
Bulgaria | 18.7 | 19.3 | 3% | 21.4 | 23.5 | 10% | -2.7 | -4.3 | ||||||||||||||||
Czech Republic | 108.2 | 113.5 | 5% | 100.7 | 101.4 | 1% | 7.5 | 12.1 | ||||||||||||||||
Denmark | 73.9 | 76.3 | 3% | 62.9 | 66.9 | 6% | 11.0 | 9.5 | ||||||||||||||||
Germany | 974.3 | 1 016.3 | 4% | 829.3 | 841.7 | 1% | 145.0 | 174.6 | ||||||||||||||||
Estonia | 11.1 | 11.7 | 5% | 11.7 | 12.7 | 8% | -0.6 | -1.0 | ||||||||||||||||
Ireland | 83.8 | 84.9 | 1% | 43.8 | 45.1 | 3% | 40.0 | 39.9 | ||||||||||||||||
Greece | 20.5 | 24.5 | 19% | 40.6 | 43.5 | 7% | -20.1 | -19.0 | ||||||||||||||||
Spain | 201.9 | 210.1 | 4% | 247.2 | 240.0 | -3% | -45.3 | -30.0 | ||||||||||||||||
France | 393.0 | 409.8 | 4% | 476.2 | 485.0 | 2% | -83.2 | -75.2 | ||||||||||||||||
Italy | 344.5 | 359.2 | 4% | 371.5 | 350.1 | -6% | -26.9 | 9.0 | ||||||||||||||||
Cyprus | 1.2 | 1.3 | 5% | 5.7 | 5.3 | -8% | -4.5 | -4.0 | ||||||||||||||||
Latvia | 8.6 | 10.0 | 16% | 10.7 | 12.1 | 14% | -2.1 | -2.1 | ||||||||||||||||
Lithuania | 18.4 | 21.0 | 14% | 20.9 | 22.9 | 9% | -2.5 | -1.9 | ||||||||||||||||
Luxembourg | 14.4 | 14.0 | -3% | 19.3 | 19.7 | 2% | -4.8 | -5.7 | ||||||||||||||||
Hungary | 74.7 | 75.4 | 1% | 67.9 | 68.8 | 1% | 6.8 | 6.6 | ||||||||||||||||
Malta | 2.9 | 2.8 | -1% | 4.2 | 4.5 | 7% | -1.3 | -1.6 | ||||||||||||||||
Netherlands | 439.0 | 469.9 | 7% | 394.7 | 423.9 | 7% | 44.2 | 46.0 | ||||||||||||||||
Austria | 117.6 | 120.2 | 2% | 126.7 | 128.4 | 1% | -9.1 | -8.2 | ||||||||||||||||
Poland | 125.2 | 132.7 | 6% | 139.4 | 141.0 | 1% | -14.2 | -8.3 | ||||||||||||||||
Portugal | 39.6 | 42.2 | 7% | 54.8 | 51.9 | -5% | -15.2 | -9.7 | ||||||||||||||||
Romania | 42.0 | 41.8 | 0% | 50.6 | 50.5 | 0% | -8.6 | -8.7 | ||||||||||||||||
Slovenia | 23.1 | 23.3 | 1% | 23.5 | 23.0 | -2% | -0.4 | 0.3 | ||||||||||||||||
Slovakia | 52.9 | 58.8 | 11% | 52.8 | 56.3 | 7% | 0.1 | 2.5 | ||||||||||||||||
Finland | 52.1 | 52.7 | 1% | 55.2 | 54.3 | -2% | -3.1 | -1.6 | ||||||||||||||||
Sweden | 123.5 | 124.9 | 1% | 116.3 | 117.0 | 1% | 7.2 | 7.9 | ||||||||||||||||
United Kingdom | 330.5 | 336.0 | 2% | 443.9 | 488.9 | 10% | -113.4 | -152.9 | ||||||||||||||||
Annex - Seasonally adjusted data
Seasonally adjusted series have been calculated using a harmonised methodology. The seasonally adjusted series give a complementary view of the monthly developments in trade. Seasonally adjusted figures may not match those published by Member States due to differences in the raw data3, in the choice of seasonal adjustment model and to the use of series in national currency or in euro.
EA17 trade - seasonally adjusted data bn euro
Flows | Jul 12 | Aug 12 | Sep 12 | Oct 12 | Nov 12 | Dec 12 |
| ||||||||||||||
Extra-EA17 exports | 155.1 | 160.2 | 157.8 | 155.6 | 156.5 | 153.6 | 3.3% | -1.5% | -1.4% | 0.6% | -1.8% | ||||||||||
Extra-EA17 imports | 148.8 | 152.2 | 147.5 | 148.5 | 146.0 | 141.7 | 2.3% | -3.1% | 0.6% | -1.7% | -3.0% | ||||||||||
Extra-EA17 trade balance | 6.3 | 8.0 | 10.2 | 7.1 | 10.5 | 12.0 | |||||||||||||||
Intra-EA17 dispatches | 135.8 | 137.8 | 134.5 | 133.3 | 133.5 | 129.7 | 1.5% | -2.4% | -1.0% | 0.2% | -2.9% | ||||||||||
EU27 trade - seasonally adjusted data bn euro
Flows | Jul 12 | Aug 12 | Sep 12 | Oct 12 | Nov 12 | Dec 12 |
| ||||||||||||||
Extra-EU27 exports | 141.0 | 145.0 | 142.1 | 139.9 | 141.3 | 138.5 | 2.8% | -2.0% | -1.5% | 0.9% | -1.9% | ||||||||||
Extra-EU27 imports | 147.8 | 152.8 | 152.4 | 149.7 | 145.1 | 142.7 | 3.4% | -0.3% | -1.8% | -3.1% | -1.6% | ||||||||||
Extra-EU27 trade balance | -6.8 | -7.7 | -10.3 | -9.7 | -3.8 | -4.2 | |||||||||||||||
Intra-EU27 dispatches | 236.9 | 240.9 | 235.7 | 234.1 | 234.5 | 228.4 | 1.7% | -2.2% | -0.7% | 0.2% | -2.6% | ||||||||||
Contribution of EU27 Member States to extra-EU27 trade - seasonally adjusted data bn euro
| ||||||||||||||||||||||||
EU27 | 141.3 | 138.5 | -1.9% | 145.1 | 142.7 | -1.6% | -3.8 | -4.2 | ||||||||||||||||
Belgium | 8.8 | 8.6 | -1.7% | 9.0 | 8.8 | -2.7% | -0.2 | -0.2 | ||||||||||||||||
Bulgaria | 0.8 | 0.7 | -11.3% | 0.8 | 0.8 | 9.1% | 0.0 | -0.1 | ||||||||||||||||
Czech Republic | 1.9 | 2.0 | 1.9% | 2.2 | 2.4 | 12.5% | -0.2 | -0.5 | ||||||||||||||||
Denmark | 2.5 | 2.5 | -0.4% | 1.8 | 1.8 | 4.9% | 0.7 | 0.6 | ||||||||||||||||
Germany | 38.6 | 37.3 | -3.4% | 25.7 | 25.7 | 0.0% | 12.9 | 11.6 | ||||||||||||||||
Estonia | 0.4 | 0.3 | -5.4% | 0.2 | 0.2 | 3.8% | 0.1 | 0.1 | ||||||||||||||||
Ireland | 3.2 | 3.1 | -3.7% | 1.2 | 0.8 | -35.3% | 2.0 | 2.3 | ||||||||||||||||
Greece | 1.4 | 1.4 | -3.1% | 2.3 | 1.8 | -20.0% | -0.9 | -0.5 | ||||||||||||||||
Spain | 7.1 | 7.1 | 0.0% | 9.6 | 9.3 | -3.3% | -2.6 | -2.3 | ||||||||||||||||
France | 15.4 | 14.9 | -2.7% | 14.0 | 13.8 | -1.5% | 1.4 | 1.2 | ||||||||||||||||
Italy | 15.3 | 15.5 | 0.9% | 14.2 | 13.7 | -3.7% | 1.1 | 1.8 | ||||||||||||||||
Cyprus | 0.0 | 0.0 | -3.4% | 0.2 | 0.1 | -37.0% | -0.1 | -0.1 | ||||||||||||||||
Latvia | 0.4 | 0.4 | -0.2% | 0.3 | 0.3 | 1.7% | 0.2 | 0.2 | ||||||||||||||||
Lithuania | 1.0 | 0.9 | -6.8% | 0.9 | 0.9 | -5.5% | 0.0 | 0.0 | ||||||||||||||||
Luxembourg | 0.3 | 0.3 | -9.9% | 0.5 | 0.4 | -18.0% | -0.2 | -0.2 | ||||||||||||||||
Hungary | 1.6 | 1.6 | -2.2% | 1.8 | 1.8 | -1.8% | -0.2 | -0.2 | ||||||||||||||||
Malta | 0.2 | 0.2 | -15.6% | 0.1 | 0.1 | -39.1% | 0.1 | 0.1 | ||||||||||||||||
Netherlands | 10.4 | 10.6 | 2.0% | 21.4 | 20.9 | -2.2% | -11.0 | -10.3 | ||||||||||||||||
Austria | 3.4 | 3.2 | -5.9% | 2.8 | 2.8 | -1.3% | 0.6 | 0.4 | ||||||||||||||||
Poland | 3.0 | 3.0 | -0.2% | 4.4 | 4.4 | 0.3% | -1.4 | -1.4 | ||||||||||||||||
Portugal | 1.1 | 1.1 | 4.5% | 1.2 | 1.3 | 6.1% | -0.1 | -0.1 | ||||||||||||||||
Romania | 1.3 | 1.1 | -12.3% | 1.2 | 1.2 | 6.8% | 0.1 | -0.1 | ||||||||||||||||
Slovenia | 0.7 | 0.7 | -0.4% | 0.7 | 0.7 | 1.3% | 0.0 | 0.0 | ||||||||||||||||
Slovakia | 0.9 | 0.8 | -10.0% | 1.4 | 1.3 | -7.3% | -0.5 | -0.5 | ||||||||||||||||
Finland | 2.2 | 2.1 | -5.4% | 1.7 | 1.8 | 5.8% | 0.5 | 0.3 | ||||||||||||||||
Sweden | 4.8 | 4.4 | -7.4% | 3.5 | 3.1 | -9.8% | 1.3 | 1.3 | ||||||||||||||||
United Kingdom | 14.8 | 14.9 | 0.6% | 22.2 | 22.6 | 1.6% | -7.4 | -7.7 | ||||||||||||||||
Seasonally adjusted data
