Euro Area Trade Surplus Widens in February On Rising Exports


The first estimate for the Euro Area trade in goods balance with the rest of the world in February of 2014 gave a € 13.6 billion surplus, compared with € +9.8 bn in February of 2013. The January 2014 balance was € +0.8 bn.

Euro Area non-seasonally adjusted exports rose 2.88 percent year-on-year in February to € 153.3 billion. Imports increased marginally by 0.36 percent to € 139.7 billion. On a monthly basis, seasonally adjusted exports rose by 1.2 percent and imports by 0.6 percent. 

The EU 28 deficit for energy decreased (€ -32.5 bn in January 2014 compared with € -34.9 bn in January 2013), while the surplus for machinery and vehicles increased (€+14.9 bn compared with € +14.3 bn). 

EU 28 imports from most of its major partners fell in January 2014 compared with January 2013, except for Turkey (+3 percent) and China (+1 percent), while they remained stable with India. The most notable decreases were recorded for imports from Russia (-10 percent), Japan (-7 percent) and Brazil (-5 percent). 

For EU 28 exports, the largest increases were registered with China (+12 percent) and Japan (+8 percent), and the most notable falls for exports to Brazil and Russia (both -10 percent) and Turkey (-5 percent). 

The EU 28 trade surplus increased with the USA (€ +6.6 bn in January 2014 compared with € +6.1 bn in January 2013), decreased with Turkey (€ +1.3 bn compared with € +1.7 bn) and remained stable with Switzerland (€ +5.7 bn). 

The EU 28 trade deficit fell with China (€ -13.6 bn compared with € -14.6 bn) and Russia (€ -9.3 bn compared with € -10.4 bn) and remained stable with Norway (€ -3.8 bn). 

Concerning the total trade of Member States, the largest surplus was observed in Germany (€ +15.3 bn euro in January 2014), followed by the Netherlands (€ +5.0 bn), Ireland (€ +2.4 bn) and the Czech Republic (€ +1.6 bn). The United Kingdom (€ -9.6 bn) registered the largest deficit, followed by France (€ -8.2 bn), Spain (€ -2.5 bn) and Greece (€ -1.6 bn).

Euro Area Trade Surplus Widens in February On Rising Exports


Eurostat | Joana Taborda | joana.taborda@tradingeconomics.com
4/15/2014 10:19:29 AM