Eurozone Posts Largest Trade Surplus in 8 Months


The Euro Area trade surplus widened to EUR 26.3 billion in November 2017 from EUR 23.8 billion in the same month of the previous year, easily beating market expectations of EUR 22.4 billion. It was the largest trade surplus since March.

Exports of goods to the rest of the world jumped by 7.7 percent to EUR 197.5 billion from EUR 183.5 billion in November 2016, while imports advanced at a slower 7.3 percent to EUR 171.2 billion from EUR 159.6 billion. Intra-euro area trade rose to EUR 165.5 billion, up by 6.9 percent compared with November 2016.

In January to November, the trade surplus narrowed sharply to EUR 213.1 billion from EUR 237.7 billion in the same period of 2016, as imports grew 10.1 percent to EUR 1,796.5 billion and exports increased 7.5 percent to EUR 2,009.7 billion.

Meanwhile, the European Union trade surplus widened to EUR 8.0 billion in November from EUR 5.5 billion surplus a year ago. Exports went up 6.8 percent to EUR 167.2 billion from EUR 156.6 billion in November last year, and imports increased 5.4 percent to EUR 159.2 billion from EUR 151.1 billion. 

In the first eleven months of the year, the trade surplus widened to EUR 12.1 billion from EUR 11.3 billion in the same period of 2016. Exports rose 8.7 percent to EUR 1,716.6 billion, boosted by sales of energy (33.2 percent); raw materials (18.3 percent); other manufactured goods (8.1 percent); machinery and vehicles (7.3 percent); chemicals (6.6 percent); and food and drink (5.7 percent). Shipments went up to the US (3.2 percent), China (18.4 percent), Switzerland (9.4 percent), Russia (20.2 percent) and Turkey (8.8 percent). Imports went up 8.7 percent to EUR 1,704.5 billion, boosted by purchases of energy (29.2 percent), raw materials (15.3 percent), machinery and vehicles (7 percent); other manufactured goods (6.3 percent); chemicals (5.1 percent); and food and drink (3.7 percent). Imports went up from the US (2.3 percent), China (8.5 percent) and Russia (23.4 percent), but fell from Switzerland (-9.8 percent).

Eurozone Posts Largest Trade Surplus in 8 Months


Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
1/15/2018 10:30:58 AM