The Euro Area trade surplus narrowed to EUR 19.0 billion in November 2018 from EUR 23.4 billion in the same month of the previous year, still comfortably above market expectations of EUR 13.7 billion. Exports rose 1.9 percent while imports advanced at a faster 4.7 percent. Balance of Trade in the Euro Area averaged 5949.36 EUR Million from 1999 until 2018, reaching an all time high of 30078.90 EUR Million in July of 2015 and a record low of -16510.20 EUR Million in January of 2011.

Balance of Trade in Euro Area is expected to be 30500.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Euro Area to stand at 26000.00 in 12 months time. In the long-term, the Euro Area Balance of Trade is projected to trend around 25000.00 EUR Million in 2020, according to our econometric models.

Euro Area Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
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 €13.1B €11.7B € 23.4B
2018-12-17 10:00 AM Balance of Trade €14B €12.8B €12.7B
2019-01-15 10:00 AM Balance of Trade €19B €14.7B €13.7B €18.5B
2019-02-15 10:00 AM Balance of Trade €19B €21.1B
2019-03-18 10:00 AM Balance of Trade
2019-04-17 09:00 AM Balance of Trade



Eurozone Trade Surplus Larger than Expected

The Euro Area trade surplus narrowed to EUR 19.0 billion in November 2018 from EUR 23.4 billion in the same month of the previous year, still comfortably above market expectations of EUR 13.7 billion.

Exports of goods to the rest of the world rose 1.9 percent to EUR 203.0 billion in November from last year's EUR 199.2 billion, while imports jumped 4.7 percent to EUR 184.0 billion from EUR 175.7 billion. Intra-euro area trade increased 1.5 percent year-on-year to EUR 170.5 billion in November.

Considering January to November, the trade surplus narrowed to EUR 175.2 billion from EUR 210.4 billion in the same period of 2017, as exports grew 4.2 percent to EUR 2,098.4 billion and imports increased at a faster 6.6 percent to EUR 1,923.2 billion.

Meanwhile, the European Union posted a EUR 3.2 billion trade deficit in November, compared to a 4.9 billion surplus a year ago. Imports rose 7.6 percent to EUR 175.9 billion from EUR 163.4 billion in November 2017, while exports went up at a much softer 2.6 percent to EUR 172.7 billion from EUR 168.4 billion.

In the first eleven months of the year, the EU recorded a EUR 25.2 billion trade deficit, compared to a EUR 9.0 billion surplus in the same period of 2017. Imports rose 6.7 percent to EUR 1,825.3 billion, boosted by purchases of energy (25.3 percent), raw materials (3.6 percent), machinery and vehicles (3.8 percent), chemicals (3.6 percent), other manufactured goods (3.7 percent), and food and drink (0.1 percent). Imports rose mainly from the US (3.3 percent), China (5.2 percent), Russia (16.9 percent), Turkey (9.3 percent) and Norway (15.1 percent), but declined from Switzerland (-1.8 percent). Exports went up at a softer 4.7 percent to EUR 1,800.0 billion, boosted by sales of energy (17 percent), chemicals (7.8 percent), other manufactured goods (3.9 percent), raw materials (3.1 percent), machinery and vehicles (2.1 percent), and food and drink (0.2 percent). Exports grew to the US (8.5 percent), China (7.3 percent), Switzerland (5.6 percent) and Norway (7.3 percent), but dropped to Russia (-0.8 percent) and Turkey (-6.7 percent).


Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
1/15/2019 10:15:27 AM


News

Euro Area Trade Surplus Narrows in October
The Euro Area narrowed to EUR 14.0 billion in October 2018 from EUR 17.8 billion in the same month a year earlier. Exports rose 11.4 percent year-on-year while imports increased at a faster 14.8 percent.
Published on 2018-12-17

Eurozone Trade Surplus Narrows as Exports Fall
The Euro Area trade surplus narrowed sharply to EUR 13.1 billion in September 2018 from EUR 25.3 billion in the same month of the previous year.
Published on 2018-11-15

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.
Published on 2018-10-16

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



Euro Area Trade Last Previous Highest Lowest Unit
Balance of Trade 18967.90 14666.50 30078.90 -16510.20 EUR Million [+]
Current Account 26.63 24.70 55.21 -28.62 EUR Billion [+]
Current Account to GDP 3.50 3.40 3.50 -1.50 percent [+]
Imports 184042.60 194469.50 194469.50 55698.40 EUR Million [+]
Exports 203010.50 209136.00 209136.00 53045.90 EUR Million [+]
External Debt 14450131.93 14295209.69 14450131.93 5501622.00 EUR Million [+]
Capital Flows 14.62 65.03 105.30 -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 January of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
18967.90 14666.50 30078.90 -16510.20 1999 - 2018 EUR Million Monthly
NSA




Country Last Previous
Argentina 979.00 Nov/18
Australia 1925.00 Nov/18
Brazil 6639.00 Dec/18
Canada -2060.10 Nov/18
China 570.60 Dec/18
Euro Area 18967.90 Nov/18
France -5099.00 Nov/18
Germany 20500.00 Nov/18
India -13080.00 Dec/18
Indonesia -1102.00 Dec/18
Italy 3784.00 Oct/18
Japan -737.30 Nov/18
Mexico -2382.00 Nov/18
Netherlands 6983.00 Nov/18
Russia 19697.00 Oct/18
Saudi Arabia 184673.00 Sep/18
Singapore 3799.41 Nov/18
South Africa 3494.40 Nov/18
South Korea 4558.00 Dec/18
Spain -3836500.00 Oct/18
Switzerland 3071.48 Nov/18
Turkey -651.36 Nov/18
United Kingdom -2904.00 Nov/18
United States -55488.00 Oct/18


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