Euro Area Trade Surplus Widens to Record High


Eurozone trade surplus increased to € 24 billion in October of 2014 from a € 16.5 billion surplus a year earlier, driven by higher exports. It is the highest surplus on record.

Exports increased 4 percent year-on-year to € 179 billion and imports were flat at € 155.6 billion. From September to October, seasonally adjusted exports fell by 0.3 percent and imports by 1.3 percent.

The EU 28 recorded a € 7.6 billion surplus, compared with a € 4.1 billion surplus a year earlier. 

Considering the first nine months of 2014, the EU28 deficit for energy decreased (€ -258.6 billion in January-September 2014 compared with € -284.4 billion in January-September 2013), as did the surplus for machinery and vehicles (€ 189.5 billion compared with € 203.4 billion).

The highest increases in EU28 exports were registered with China (+11 percent in January-September 2014 compared with January-September 2013), South Korea (+10 percent) and the United States (+6 percent), and for EU28 imports with South Korea (+10 percent), China and Turkey (both +7 percent). The most notable decreases were recorded for exports to Switzerland (-21 percent), Russia (-12 percent), Turkey and Brazil (both -7 percent), and for imports from Russia (-9 percent), Norway (-8 percent) and Brazil (-5 percent).

Concerning the total trade of Member States, the largest surplus was observed in Germany (€ 161.1 billion), followed by the Netherlands (€ 44.7 billion), Italy (€ 28.2 billion), Ireland (€ 26.6 billion) and the Czech Republic (€ 12.5 billion). The United Kingdom (€ -102.4 billion) registered the largest deficit, followed by France (€ -55.5 billion), Spain (€ -19.4 billion) and Greece (€ 15.7 billion). 

Euro Area Trade Surplus Widens to Record High


Eurostat | Joana Taborda | joana.taborda@tradingeconomics.com
12/16/2014 2:46:51 PM