Eurozone December Trade Surplus Smaller than Expected


The Euro Area trade surplus narrowed to EUR 25.4 billion in December 2017 from EUR 27.6 billion in the same month of the previous year, missing market expectations of EUR 30.2 billion.

Imports of goods from the rest of the world rose by 2.5 percent to EUR 155.3 billion from EUR 151.4 billion in December 2016, while exports advanced at a slower 1 percent to EUR 180.7 billion from EUR 179 billion. Intra-euro area trade rose to EUR 142.4 billion, up by 2.8 percent compared with December 2016.

Considering 2017 full year, the trade surplus narrowed sharply to EUR 238.1 billion from EUR 265.2 billion in 2016, as imports grew 9.7 percent to EUR 1,954.8 billion and exports increased 7.1 percent to EUR 2,192.9 billion.

Meanwhile, the European Union trade surplus narrowed to EUR 14.3 billion in December from EUR 20.7 billion a year ago. Imports went up 1.4 percent to EUR 146.4 billion from EUR 144.3 billion in December 2016, and exports fell 2.7 percent to EUR 160.6 billion from EUR 165 billion. 

In 2017, the trade surplus decreased to EUR 25 billion from EUR 32 billion in 2016. Imports rose 8.2 percent to EUR 1,853.5 billion, boosted by purchases of energy (27.8 percent); raw materials (14.2 percent); machinery and vehicles (6.5 percent); other manufactured goods (5.7 percent); chemicals (4.6 percent); and food and drink (2.6 percent). Imports rose mainly from Russia (22 percent), China (8.5 percent), Turkey (4.5 percent) and the US (1.5 percent). Exports went up 7.7 percent to EUR 1,878.5 billion, boosted by higher sales of energy (31.6 percent); raw materials (17 percent); other manufactured goods (7.4 percent); machinery and vehicles (6.3 percent); chemicals (6.3 percent); and food and drink (5 percent). Exports grew to Russia (19.1 percent); China (16.9 percent); Turkey (8.8 percent); Switzerland (6.1 percent) and the US (3.2 percent).

Eurozone December Trade Surplus Smaller than Expected


Eurostat| Joana Ferreira | joana.ferreira@tradingeconomics.com
2/15/2018 10:26:02 AM