The trade surplus in the Euro Area decreased to EUR 11.7 billion in August of 2018 from EUR 15.24 billion a year earlier and compared with market consensus of EUR 15.3 billion. It was the smallest trade surplus since January, as imports advanced 8.4 percent year-on-year to EUR 169.8 billion and exports rose at a softer 5.6 percent to EUR 181.5 billion. Intra-Euro trade increased to EUR 140.7 billion, up by 5.1 percent compared with August last year. Balance of Trade in the Euro Area averaged 5826.31 EUR Million from 1999 until 2018, reaching an all time high of 30074.90 EUR Million in July of 2015 and a record low of -16510.20 EUR Million in January of 2011.

Euro Area Balance of Trade
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Euro Area Trade Surplus Narrows in August


The trade surplus in the Euro Area decreased to EUR 11.7 billion in August of 2018 from EUR 15.24 billion a year earlier and compared with market consensus of EUR 15.3 billion. It was the smallest trade surplus since January, as imports advanced 8.4 percent year-on-year to EUR 169.8 billion and exports rose at a softer 5.6 percent to EUR 181.5 billion. Intra-Euro trade increased to EUR 140.7 billion, up by 5.1 percent compared with August last year.

In the first eight months of the year, exports of goods advanced 4.6 percent year-on-year to EUR 1501.1 billion, while imports went up 5.5 percent to EUR 1371.4 billion. As a result the Euro Area recorded a surplus of EUR 129.6 billion from EUR 140.4 billion. Intra-Euro area trade rose to EUR 1286.9 billion, up by 6.2 percent compared with the same period of 2017.

Considering the European Union, exports of goods increased by 9.2 percent to EUR 159.2 billion and imports jumped 10.3 percent to EUR 167.6 billion, widening the trade deficit to EUR 8.4 billion from EUR 6.1 billion in August 2017. Intra-EU28 trade rose to EUR 262.9 billion, up by 4.5 percent compared with the same month a year earlier.

In January to August 2018, EU28 exports of goods went up by 4.2 percent year-on-year to EUR 1286.6 billion and imports rose by 5.3 percent to EUR 1299.6 billion. As a result, the EU28 trade gap increased to EUR 13.0 billion from EUR 0.3 billion in 2017. Higher exports of goods were driven by sales of machinery and vehicles (2.3 percent), chemicals (6.5 percent), other manufactured goods (3.9 percent), energy (15.6 percent) and raw materials (3.0 percent), while sales of food and drinks fell 0.4 percent). Exports advanced to all main export partners, namely India (11.2 percent), Canada (9.1 percent), Norway (6.6 percent), the US (6.4 percent) and Japan (6.3 percent). Higher imports were boosted by purchases of energy (21.8 percent), machinery and vehicles (2.6 percent), other manufactured goods (2.2 percent), chemicals (2.0 percent) and raw materials (2.6 percent). In contrasts, purchases of food and dircks declined (-1.3 percent). China was the biggest import partner, with purchases increasing 3.1 percent; the US was the second highest import partner rising 0.4 percent; Russia (+14.4 percent) and Norway (+10.8 percent).


Eurostat | Stefanie Moya | stefanie.moya@tradingeconomics.com
10/16/2018 9:36:04 AM


Recent Releases

Euro Area Trade Surplus Falls in July
The trade surplus in the Euro Area declined to EUR 17.6 billion in July of 2018 from EUR 21.6 billion a year earlier and compared with market expectations of EUR 18 billion. Imports jumped 13.4 percent year-on-year to EUR 177.1 billion, the second-highest value on record. Exports rose at a softer 9.4 percent to EUR 194.6 billion. Intra-Euro Area trade rose to EUR 162.3 billion, up by 9.3 percent compared with July 2017.
Published on 2018-09-14

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The Euro Area trade surplus narrowed to EUR 22.5 billion in June 2018 from EUR 25.7 billion in the same month a year earlier, well above market expectations of EUR 18 billion. Imports rose 8.6 percent and exports increased 5.7 percent.
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The Euro Area trade surplus narrowed to EUR 16.5 billion in May 2018 from EUR 19.3 billion in the same month of the previous year. The latest figure came in well below market expectations of a EUR 20.9 billion surplus due to a drop in exports.
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Calendar GMT Actual Previous Consensus TEForecast
2018-08-16 09:00 AM Balance of Trade €22.5B €16.5B €18B € 29B
2018-09-14 09:00 AM Balance of Trade €17.6B €22.7B €18B €25.5B
2018-10-16 09:00 AM Balance of Trade €11.7B €17.6B €15.1B €17.9B
2018-11-15 10:00 AM Balance of Trade €11.7B € 23.4B
2018-12-17 10:00 AM Balance of Trade €22.7B


Euro Area Trade Last Previous Highest Lowest Unit
Balance of Trade 11671.20 17100.20 30074.90 -16510.20 EUR Million [+]
Exports 181517.40 194276.80 205814.20 53045.90 EUR Million [+]
Imports 169846.20 177176.60 177254.70 55698.40 EUR Million [+]
Current Account 20.49 29.96 55.21 -28.62 EUR Billion [+]
Current Account to GDP 3.50 3.40 3.50 -1.50 percent [+]
External Debt 14295209.69 13810662.00 14295209.69 5501622.00 EUR Million [+]
Capital Flows 28.43 6.13 101.03 -70.94 EUR Billion [+]
Gold Reserves 504.77 504.77 766.88 501.45 Tonnes [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



Euro Area Balance of Trade

Euro Area runs regular trade surpluses primarily due to its high export of manufactured goods such as machinery and vehicles. Euro area is a net importer of energy and raw materials. Germany, Italy, France and Netherlands account for the largest share of total trade. Main trading partners are the United Kingdom (12 percent of total exports and 10 percent of imports) and the United States (13 percent of exports and 6 percent of imports). This page provides the latest reported value for - Euro Area Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Euro Area Balance of Trade - actual data, historical chart and calendar of releases - was last updated on November of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
11671.20 17100.20 30074.90 -16510.20 1999 - 2018 EUR Million Monthly
NSA




Country Last
Argentina 314.00 Sep/18
Australia 3017.00 Sep/18
Brazil 6121.36 Oct/18
Canada -416.30 Sep/18
China 340.16 Oct/18
Euro Area 11671.20 Aug/18
France -5663.00 Sep/18
Germany 18395.00 Sep/18
India -13980.00 Sep/18
Indonesia 227.10 Sep/18
Italy 2564.00 Aug/18
Japan 139.56 Sep/18
Mexico -194.00 Sep/18
Netherlands 3463.00 Aug/18
Russia 18485.00 Sep/18
Saudi Arabia 162782.00 Jun/18
Singapore 3685.26 Sep/18
South Africa -2950.00 Sep/18
South Korea 6552.00 Oct/18
Spain -3057300.00 Aug/18
Switzerland 1447.00 Sep/18
Turkey -1869.47 Sep/18
United Kingdom -27.00 Sep/18
United States -54019.00 Sep/18


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