Euro Area Trade Surplus Narrows in June



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.

Exports of goods to the rest of the world advanced 5.7 percent to EUR 198.6 billion in June from EUR 187.9 billion a year ago and imports increased 8.6 percent to EUR 176.1 billion from EUR 162.2 billion in June 2017. Intra-euro area trade rose 7.1 percent year-on-year to EUR 170.7 billion in June.

Considering the first half of the year, the trade surplus declined to EUR 100.7 billion from EUR 103.7 billion in the same period of 2017, as imports went up 3.8 percent to EUR 1023.8 billion and exports grew 3.1 percent to EUR 1124.6 billion.

Meanwhile, the European Union trade surplus widened to EUR 6.9 billion in June from EUR 6.6 billion in the same month a year ago. Exports jumped 8.2 percent to EUR 171.5 billion from EUR 158.5 billion a year earlier, and imports rose 8.4 percent to EUR 164.6 billion from EUR151.9 billion.

In the first six months of 2018, the EU trade deficit increased to EUR 3.9 billion from EUR 1.2 billion in the same period of 2017. Imports edged up 2.8 percent to EUR 960.7 billion driven by higher purchases of energy (14.6 percent), machinery and vehicles (0.9 percent), other manufactured goods (0.8 percent) and raw materials (0.7 percent). In contrast, imports declined for food and drink (-1.9 percent) and chemicals (-0.1 percent). Imports went up mostly from Russia (8.3 percent), Turkey (6.7 percent) and Norway (5.3 percent) while fell from Canada (-6.2 percent), the US (-2.4 percent) and South Korea (-2.3 percent). Exports of goods advanced 2.5 percent to EUR 956.8 billion, boosted by higher sales of energy (7.3 percent), chemicals (5.0 percent) and other manufactured goods (3.1 percent). On the other hand, sales of food and drinks dropped 1.0 percent. Exports grew to Canada (8.4 percent), Turkey and India (7.8 percent), Japan (4.0 percent) and the US and China (3.9 percent).

Euro Area Trade Surplus Narrows in June


Eurostat | Stefanie Moya | stefanie.moya@tradingeconomics.com
8/16/2018 9:43:22 AM