Eurozone Trade Surplus Narrows In May


The Euro Area trade surplus narrrowed to EUR 21.4 billion in May of 2017 from a EUR 23.4 billion surplus a year earlier. Exports went up 12.9 percent to €189.6 billion and imports rose 16.4 percent to €168.1 billion.

Considering the first five months of the year, the trade surplus narrowed to €82.9 billion from €101.5 billion a year ago, as exports were up by 8.5 percent to €898.5 billion while imports rose 12.3 percent to €815.6 billion.

Meanwhile, the European Union recorded a €4 billion surplus in trade in goods with the rest of the world, compared with a €5 billion surplus in May 2016. 

In January to May 2017, the trade balance swung to €3.7 billion gap, compared with €5.7 billion surplus in the same period a year earlier, as exports went up by 10.6 percent to €772.9 billion and imports jumped 12 percent to €776.6 billion.

Exports of primary goods surged 23.4 percent to €111.9 billion, led by an increase in sales of energy (54.3 percent), raw materials and (21.4 percent) and food and drink (6.1 percent). Also, manufactured goods rose 8.5 percent to €636.1 billion, driven by chemicals (11.1 percent), machinery and vehicles (7.9 percent) and other manufactured goods (7.7 percent). Among trading partners, the biggest increases in exports were reported for Russia (24.6 percent), China (20.3 percent), South Korea (14.3 percent), Switzerland (14 percent), Japan (11.9 percent) and the US (6.6 percent).

Imports of primary goods rose 33.1 percent to €226.8.9 billion, led by energy (50 percent), raw materials (20.3 percent) and food and drink (5.4 percent). Imports of manufactured goods increased 7 percent to €525.3 billion, driven by machinery and vehicles (7.3 percent) and other manufactured goods (6.5 percent) and chemicals (7 percent). Among trading partners, the biggest increases in imports were reported for Russia (37.6 percent), Norway (37.1 percent); South Korea (20.2 percent), Canada (12.7 percent) and India (13.6 percent).

Eurozone Trade Surplus Narrows In May


Eurostat | Yekaterina Guchshina | yekaterina@tradingeconomics.com
7/14/2017 9:12:40 AM