Euro Area Trade Surplus Widens in May


The Eurozone trade surplus increased to € 18.8 billion in May of 2015 from a € 14.7 billion surplus a year earlier, as exports of goods were up 3 percent while imports were stable.

Euro Area exports reached € 164.4 billion and imports stood at € 145.6 billion. Intra-euro area trade rose 1 percent year-on-year.

Considering the first five months of 2015, exports of goods rose to € 828.9 billion (+5 percent over a year earlier), while imports increased to €734.0 billion (+1 percent).

In the European Union, exports were recorded at €145.8 billion in March, up 4 percent year-on-year. Imports stood at €139.5 billion, down 1 percent, thus resulting in a € 6.3 billion trade surplus. 

In the first five months of 2015, EU exports rose to € 728.5 billion (+6 percent compared to January-March 2014) while imports increased to € 708.4 billion (+2 percent over a year earlier).

While shipments of manufactured goods rose 8 percent, boosted by chemicals, machinery and vehicles products; primary goods sales fell 7 percent, driven by a 23 percent fall in the energy sector. Exports to the United State, South Korea and India recorded the highest increase (+22 percent; +18 percent; and + 17 percent, respectively) while sales to Russia decreased the most (-34 percent), followed by Brazil (-6 percent).

Among imports, purchases of manufactured goods expanded 14 percent, while acquisition of primary goods fell 18 percent due to lower demand in the energy market (-26 percent). Imports from the US, China and Turkey grew 24 percent, 19 percent and 12 percent, respectively. At the same time imports from Russia (-29 percent) and Norway (-15 percent) contracted the most. 

Euro Area Trade Surplus Widens in May


Eurostat | joana.ferreira@tradingeconomics.com
7/16/2015 10:20:01 AM