Euro Area Trade Surplus Widens in August


The Eurozone trade surplus widened to €11.2 billion in August of 2015 from €7.4 billion a year earlier, as exports surged 6 percent year-on-year while imports increased at a slower 3 percent.

Euro Area exports reached €148.3 billion compared to €140.5 billion in August 2014 while imports stood at €137.1 billion compared to €133.1 billion in the previous month. Intra-euro area trade rose to €114.7 billion August 2015, up by 2 percent year-on-year.

Considering January to August 2015, exports of goods rose to €1346 billion (+6 percent over the same period a year earlier), while imports increased to €1189 billion (+3 percent).

In the European Union, exports were recorded at €131.8 billion in August, up 7 percent year-on-year. Imports stood at €134.1 billion, up by 1 percent, thus resulting in a €2.3 billion deficit in trade in goods with the rest of the world, compared with a €10 billion gap in August 2014. Intra-EU28 trade rose to €215.3 billion, up by 4 percent year-on-year.

Considering January to August 2015, extra-EU28 exports of goods rose to €1182.5 billion (+7 percent compared with January-August 2014), while imports rose to €1149.8 billion (+3 percent). As a result, the EU28 recorded a surplus of €32.7 billion, compared with a deficit of €12.7 billion in the same period of 2014. Intra-EU28 trade rose to €2014 billion in January-August 2015, +5 percent year-on-year.

Among exports, shipments of manufactured goods rose 9 percent, boosted by higher sales of chemicals products (+15 percent) and machinery and vehicles (+8 percent). Primary goods sales fell 6 percent, driven by a 21 percent drop in the energy sector while sales of food and raw materials went up by 6 percent and 3 percent, respectively. Exports to the United States, South Korea and India recorded the highest increase (+23 percent; +16 percent; and +14 percent, respectively) while sales to Russia continued to fall (-31 percent), followed by Brazil (-4 percent).

Among imports, purchases of manufactured goods expanded 15 percent, while acquisition of primary goods fell 17 percent due to lower demand in the energy market (-25 percent). Imports from the US, China and Turkey grew 21 percent, 18 percent and 12 percent, respectively. At the same time imports from Russia (-26 percent) and Norway (-12 percent) contracted the most. 


Euro Area Trade Surplus Widens in August


Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
10/16/2015 10:29:47 AM