Eurozone Trade Surplus Plunges in March as Exports Slump

2026-05-19 09:25 By Joana Ferreira 1 min. read

The Eurozone’s trade surplus collapsed to €7.8 billion in March 2026, down from a record €34.1 billion a year earlier, as exports fell 5.5% to €265.3 billion.

The decline follows last year’s peak, when US consumers rushed to boost foreign purchases ahead of tariffs introduced in April 2025.

Exports declined sharply in chemicals (-31.9%), machinery and vehicles (-2.0%), and food and drink (-1.3%).

Shipments to the US plunged 38.8%, while exports to China (-4.6%) and Turkey (-9.3%) also fell.

Meanwhile, imports grew 4.4% to €257.4 billion, driven by higher purchases of fuels and lubricants (8.3%) and crude materials (5.8%) due to soaring energy costs tied to the US-Israel-Iran conflict.

Imports of machinery and vehicles also climbed 6.8%.

Nearly all major trade partners saw increased imports, led by Switzerland (11%), Norway (8.6%), Japan (8.9%), and Brazil (4.6%).

For Q1 2026, the surplus shrank to €16.6 billion from €55.4 billion in the same period of 2025.



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Eurozone Trade Surplus Plunges in March as Exports Slump
The Eurozone’s trade surplus collapsed to €7.8 billion in March 2026, down from a record €34.1 billion a year earlier, as exports fell 5.5% to €265.3 billion. The decline follows last year’s peak, when US consumers rushed to boost foreign purchases ahead of tariffs introduced in April 2025. Exports declined sharply in chemicals (-31.9%), machinery and vehicles (-2.0%), and food and drink (-1.3%). Shipments to the US plunged 38.8%, while exports to China (-4.6%) and Turkey (-9.3%) also fell. Meanwhile, imports grew 4.4% to €257.4 billion, driven by higher purchases of fuels and lubricants (8.3%) and crude materials (5.8%) due to soaring energy costs tied to the US-Israel-Iran conflict. Imports of machinery and vehicles also climbed 6.8%. Nearly all major trade partners saw increased imports, led by Switzerland (11%), Norway (8.6%), Japan (8.9%), and Brazil (4.6%). For Q1 2026, the surplus shrank to €16.6 billion from €55.4 billion in the same period of 2025.
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Euro Area Trade Surplus Narrows More than Expected
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