Eurozone Trade Surplus Narrows Less than Expected


The Euro Area trade surplus narrowed to EUR 23.2 billion in July 2017 from EUR 24.8 billion in the corresponding month of the previous year. Still, the reading came in above market expectations of EUR 21.4 billion.

Exports of goods to the rest of the world increased by 6.1 percent to EUR 177.7 billion from EUR 167.6 billion in July 2016, while imports advanced at a faster 8.2 percent to EUR 154.6 billion from EUR 142.8 billion. Intra-euro area trade rose to EUR 145.6 billion, up by 5.6 percent compared with July 2016.

In the the seven months to July, the trade surplus narrowed to EUR 130.2 billion from EUR 154.1 billion in the same period of 2016.

Considering the European Union, the trade surplus widened to EUR 8.8 billion from EUR 3.0 billion a year ago. Exports rose 9.7 percent over a year earlier to EUR 155.8 billion and imports increased 5.6 percent to EUR 146.9 billion. 

In the first seven months of 2017, the trade surplus narrowed to EUR 10.8 billion from EUR 14.0 billion in the same period of 2016. Exports rose 9.6 percent to EUR 1,087.3 billion, boosted by sales of machinery and vehicles (7.3 percent); other manufactured goods (7.6 percent); chemicals (8.6 percent); food and drinks (5.5 percent); energy (43.3 percent) and raw materials (19.9 percent). Shipments went up to the US (4.3 percent), China (18.6 percent), Switzerland (14.7 percent), Russia (23 percent) and Turkey (5.5 percent). Imports went up 10.1 percent to EUR 1,076.5 billion, boosted by purchases of machinery and vehicles (7.9 percent); other manufactured goods (6.7 percent); energy (37.8 percent); chemicals (5.7 percent); raw materials (18.7 percent) and food and drinks (4.5 percent). Imports went up from the US (4.1 percent), China (7.4 percent), Russia (30 percent) and Turkey (5.5 percent). 

Eurozone Trade Surplus Narrows Less than Expected


Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/15/2017 9:25:46 AM