Eurozone Trade Balance Back to Surplus in January


The Euro Area recorded a EUR 3.3 billion trade surplus in January of 2018, switching from a EUR 1.4 billion deficit a year earlier. It compares with market expectations of a EUR 22.6 billion surplus. Exports rose 9.1 percent and imports went up at a slower 6.3 percent.

Exports increased 9.1 percent year-on-year to EUR 178.6 billion and imports went up 6.3 percent to EUR 175.4 billion. Intra-euro area trade rose 8.8 percent year-on-year to EUR 159.8 billion. 

Considering the European Union, exports increased 6.5 percent from a year earlier to EUR 150.5 billion and imports added 7.6 percent to EUR 170.8 billion, thus resulting in a EUR 20.3 billion deficit, wider than a EUR 17.4 billion gap a year earlier. Intra-EU28 trade rose 9 percent to EUR 288.2 billion. 

Sales rose for machinery and vehicles (6.7 percent); other manufactured goods (10.5 percent); chemicals (16.7 percent); and food and drinks (3.3 percent) and were flat for raw materials and energy. Shipments went up to the US (5.3 percent), China (14.3 percent), Turkey (28.8 percent) and Russia (3.3 percent) but fell to Switzerland (-13.4 percent).

Imports went up for machinery and vehicles (9 percent); other manufactured goods (7.9 percent); energy (8.5 percent) and raw materials (4.5 percent) but declined for food and drinks (-1 percent) and stalled for chemicals. Main purchases came from China (sales up 9.3 percent), the US (sales up 4.9 percent) and Russia (sales were flat).

 Eurozone Trade Balance Back to Surplus in January


Eurostat | Joana Taborda | joana.taborda@tradingeconomics.com
3/19/2018 10:26:23 AM