The Euro Area trade surplus narrowed to EUR 22.5 billion in March 2019 from EUR 26.9 billion in the same month of the previous year, beating market expectations of a EUR 19.9 billion surplus. Imports rose 6.0 percent and exports increased at a slower 3.1 percent. Balance of Trade in the Euro Area averaged 6165.60 EUR Million from 1999 until 2019, reaching an all time high of 30374.60 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 20000.00 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 20900.00 in 12 months time. In the long-term, the Euro Area Balance of Trade is projected to trend around 14000.00 EUR Million in 2020, according to our econometric models.

Euro Area Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2019-02-15 10:00 AM Balance of Trade €17B €19.7B €21.1B
2019-03-18 10:00 AM Balance of Trade €1.5B €17B €-8B €1.5B
2019-04-17 09:00 AM Balance of Trade €17.9B €1.8B €12.3B €15.1B
2019-05-16 09:00 AM Balance of Trade €22.5B €19.1B €19.9B €20.5B
2019-06-14 09:00 AM Balance of Trade €22.5B €17.6B
2019-07-16 09:00 AM Balance of Trade €14.5B
2019-08-16 09:00 AM Balance of Trade €20.0B



Euro Area Trade Surplus Larger than Expected

The Euro Area trade surplus narrowed to EUR 22.5 billion in March 2019 from EUR 26.9 billion in the same month of the previous year, still beating market expectations of a EUR 19.9 billion surplus. Imports rose 6.0 percent and exports increased at a slower 3.1 percent. Considering the first quarter of the year, the country's trade surplus decreased to EUR 43.5 billion from EUR 46.5 billion in the same period of 2018

Imports advanced 6.0 percent to EUR 183.1 billion in March from last year's EUR 172.7 billion, while exports went up at a softer 3.1 percent to EUR 205.6 billion from EUR 199.5 billion. Intra-euro area trade fell 0.3 percent year-on-year to EUR 172.1 billion in March. Considering the first quarter of the year, the trade surplus was at EUR 43.5 billion, compared to EUR 46.5 billion in the same period a year earlier, with exports increasing 3.9 percent to EUR 575.6 billion and imports rising 4.8 percent to EUR 532.2 billion.

Meantime, the European Union trade surplus fell sharply to EUR 2.9 billion from EUR 11.2 billion a year ago, mostly due to a jump in imports (6.4 percent to EUR 170.4 billion) and a smaller rise in exports (1.2 percent to EUR 173.4 billion). Considering the first three months of the year, the European Union recorded a trade gap of EUR 24.0 billion, compared to a EUR 9.6 billion shortfall in the same period of 2018. The trade surplus with the US declined to EUR 33.9 billion from EUR 36.2 billion, while the trade deficit with China went up to EUR 49.4 billion from EUR 46.9 billion.

Exports increased 3.1 percent year-on-year to EUR 483.6 billion in January-March, driven by higher sales of food & drink (8.3 percent), chemicals (4.9 percent), raw materials (4.7 percent), machinery & vehicles (2.7 percent) and other manufactured goods (3.5 percent). On the other hand, exports of energy dropped 4.2 percent. Among major trade partners, exports grew to the US (8.2 percent), China (11.3 percent), Switzerland (2.9 percent), Russia (0.6 percent), Japan (7.6 percent), Norway (11.3 percent) and Canada (6.1 percent), but declined to Turkey (-22.0 percent), South Korea (-7.3 percent) and India (-6.4 percent).

Imports advanced at a stronger 6.1 percent to EUR 507.6 billion, boosted by higher purchases of chemicals (11.4 percent), machinery and vehicles (7.5 percent), food & drink (6.1 percent), other manufactured goods (4.8 percent), raw materials (4.5 percent), and energy (1.2 percent). Imports increased mainly from the US (16.3 percent), China (8.3 percent), Switzerland (9.6 percent), Russia (1.5 percent), Turkey (6.9 percent), Japan (8.0 percent), South Korea (8.4 percent), India (8.5 percent) and Canada (7.8 percent), but decreased from Norway (-9.8 percent).


Eurostat | Stefanie Moya | stefanie.moya@tradingeconomics.com
5/16/2019 9:30:01 AM



Euro Area Trade Last Previous Highest Lowest Unit
Balance of Trade 22532.90 19139.00 30374.60 -16510.20 EUR Million [+]
Current Account 35.10 16.70 53.09 -28.62 EUR Billion [+]
Current Account to GDP 3.00 3.20 3.20 -1.50 percent [+]
Imports 183095.50 167345.10 195477.40 55698.40 EUR Million [+]
Exports 205628.50 186484.10 209272.30 53045.90 EUR Million [+]
External Debt 14185222.30 14450131.93 14450131.93 5501622.00 EUR Million [+]
Capital Flows 36.70 14.80 106.32 -70.94 EUR Billion [+]
Gold Reserves 504.80 504.77 766.88 501.45 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 May of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
22532.90 19139.00 30374.60 -16510.20 1999 - 2019 EUR Million Monthly
NSA




Country Last Previous
Argentina 1131.00 Apr/19
Australia 4949.00 Mar/19
Brazil 6060.00 Apr/19
Canada -3211.20 Mar/19
China 138.34 Apr/19
Euro Area 22532.90 Mar/19
France -5324.00 Mar/19
Germany 22683.00 Mar/19
India -15330.00 Apr/19
Indonesia -2501.90 Apr/19
Italy 4625.00 Mar/19
Japan 60.40 Apr/19
Mexico 1370.00 Apr/19
Netherlands 5330.00 Mar/19
Russia 15537.00 Mar/19
Saudi Arabia 180059.00 Dec/18
Singapore 2782.79 Apr/19
South Africa 5004.63 Mar/19
South Korea 4120.00 Apr/19
Spain -2352600.00 Mar/19
Switzerland 2494.00 Mar/19
Turkey -2136.73 Mar/19
United Kingdom -5408.00 Mar/19
United States -50000.00 Mar/19


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