Euro Area Trade Surplus Widens for Second Straight Month


The first estimate for the euro area trade in goods balance with the rest of the world in May of 2014 gave a €15.4 billion surplus, compared with a €14.6 billion surplus a year earlier as exports rose marginally and imports fell slightly.

Year-on-year, exports rose a meager 0.23 percent to €159.7 billion in May while imports fell 0.22 percent to €14.4 billion. 

The April 2014 trade balance was also +€15.4 billion, compared with +€14.2 billion in April of 2013. In May of 2014 compared with April, seasonally adjusted exports rose by 0.6 percent and imports by 0.5 percent. 

From January to April, the EU 28 deficit for energy decreased (-€115.2 bn in January-April 2014 compared with -€127.5 bn in January-April 2013), as did the surplus for machinery and vehicles (+€79.7 bn compared with +€89.1 bn).

The highest increases in EU28 exports were registered with China (+9 percent in January-April 2014 compared with January-April 2013) and South Korea (+5 percent), and for EU28 imports with South Korea (+9 percent), Switzerland and Turkey (both +6 percent). The most notable decreases were recorded for exports to Switzerland (-15 percent), Russia and India (both -11 percent), and for imports from Russia (-9 percent) and Brazil (-8 percent).

Eurostat | Joana Taborda | joana.taborda@tradingeconomics.com
7/16/2014 10:26:40 AM