Eurozone Trade Surplus Widens Ahead Of Expectations


The Eurozone trade surplus rose to €25.9 billion in November 2016 from €22.9 billion in the same month of the previous year, above market consensus of €22 billion. Exports increased 6 percent while imports went up at a slower 5 percent.

Exports of goods to the rest of the world advanced 6 percent to €184.2 billion from €173.8 billion a year earlier; while imports increased at a slower 5 percent to €158.3 billion compared to €150.9 billion in November 2015.

In January to November 2016, the trade surplus rose to €248.2 billion, compared with €214.3 billion in the same period a year earlier, as exports were nearly unchanged at €1,869 billion and imports dropped 2 percent to €1,620.8 billion.

The European Union recorded a €6.9 billion surplus in trade in goods with the rest of the world, compared with a €5.7 billion surplus in November 2015. Exports went up 5 percent to €156.8 billion from €148.7 billion a year earlier; and imports rose also 5 percent to €149.9 billion compared to €143 billion.

In January to November 2016, the European Union recorded a surplus of €20.2 billion, compared with €39.3 billion in the same period a year ago. Exports of goods dropped 3 percent to €1,581.2 billion from €1,633.1 billion in the same period a year earlier, led by a fall in sales of energy (-16 percent), raw materials (-2 percent), machinery and vehicles (-2 percent), other manufactured goods (-2 percent) and chemicals (-1 percent) while exports of food and drinks rose (+3 percent). Imports shrank 2 percent to €1,561 billion from €1,593.8 billion, as purchases declined the most for energy (-23 percent) and raw materials (-6 percent). Among trading partners, the biggest decreases in shipments were reported for South Korea (-9 percent) and Switzerland (-6 percent); while the decline in imports mainly reflected the strong fall in purchases from Norway (-17 percent) and Russia (-16 percent). 

Eurozone Trade Surplus Widens Ahead Of Expectations


Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
1/16/2017 10:27:32 AM