Euro Area Trade Surplus Hit Record High


The Eurozone recorded a €24.3 billion surplus in December of 2014, up from a revised € 21.2 billion in the previous month and a € 13.6 billion surplus a year earlier. It is the highest surplus on record due to a surge in exports.

Year-on-year, exports increased 8 percent to € 161.5 billion in December and imports rose 2 percent to € 137.2 billion.

From November to December, exports fell 1.1 percent and imports shrank 2.4 percent. 

For the whole of 2014, exports increased 2 percent year-on-year while imports were flat, bringing the trade surplus to € 194.8 billion from € 152.3 billion in 2013.

In December of 2014, the EU 28 recorded a €12.4 billion surplus, compared with a € 8.1 billion surplus in December of 2013.

Considering the first eleven months of 2014, the highest increases in EU 28 exports were registered with China (+11 percent), South Korea (+8 percent) and the United States (+6 percent), and for EU 28 imports with South Korea and China (both +8 percent) and Turkey (+7 percent). The most notable decreases were recorded for exports to Switzerland (-18 percent), Russia (-13 percent) and Brazil (-8 percent), and for imports from Russia (-10 percent), Norway (-7 percent) and Brazil (-6 percent).

Concerning the total trade of Member States, the largest surplus was observed in Germany (+€ 201.8 billion), followed by the Netherlands (+€57.5 billion), Italy (+€37.1 billion), Ireland (+€32.2 billion), the Czech Republic (+€15.4 billion) and Belgium (+€13.6 billion). The United Kingdom (-€121.1 billion) registered the largest deficit, followed by France (-€67.5 billion), Spain (-€23.0 billion) and Greece (-€18.9 billion).

Euro Area Trade Surplus Hit Record High


Eurostat | Joana Taborda | joana.taborda@tradingeconomics.com
2/16/2015 10:25:15 AM