The Euro Area trade surplus narrowed to EUR 1.5 billion in January 2019 from a revised EUR 3.1 billion in the same month of the previous year, defying market expectations of an EUR 8.0 billion deficit. Exports increased 2.5 percent and imports rose at a faster 3.4 percent. Balance of Trade in the Euro Area averaged 6047.86 EUR Million from 1999 until 2019, reaching an all time high of 30374 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 20500.00 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 12000.00 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
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 €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 €1.5B €15.1B
2019-05-16 09:00 AM Balance of Trade €20.5B
2019-06-14 09:00 AM Balance of Trade €17.6B



Eurozone Posts Surprise Trade Surplus in January

The Euro Area trade surplus narrowed to EUR 1.5 billion in January 2019 from a revised EUR 3.1 billion in the same month of the previous year, defying market expectations of an EUR 8.0 billion deficit.

Exports of goods to the rest of the world increased 2.5 percent to EUR 183.4 billion in January from last year's EUR 179.0 billion, while imports rose at a faster 3.4 percent to EUR 181.8 billion from EUR 175.9 billion. Intra-euro area trade went up 2.4 percent year-on-year to EUR 164.6 billion in January.

Meanwhile, the European Union trade deficit widened to EUR 24.9 billion in January from EUR 21.4 billion a year ago. The trade surplus with the US increased to EUR 11.5 billion from EUR 10.1 billion, while the trade deficit with China rose to EUR 21.4 billion from EUR 20.8 billion.

Exports advanced 2.1 percent year-on-year to EUR 153.6 billion from EUR 150.4 billion, due to sales of chemicals (5.6 percent), food & drink (5.3 percent), machinery & vehicles (3.2 percent) and other manufactured goods (3 percent). Meanwhile, exports of raw materials were unchanged and those of energy plunged 11.2 percent. Among major trade partners, exports grew to the US (12.4 percent), China (10 percent), Switzerland (1.6 percent), Japan (7.5 percent), Norway (12.2 percent) and Canada (6.7 percent), but dropped to Turkey (-35.1 percent), South Korea (-10 percent) and India (-5.9 percent). Sales to Russia were unchanged.

Meanwhile, imports rose at a faster 3.9 percent to EUR 178.5 billion from EUR 171.8 billion, boosted by purchases of chemicals (10.7 percent), food & drink (7 percent), raw materials (4.3 percent), other manufactured goods (4.1 percent) and machinery and vehicles (3.4 percent). Imports of energy, however, dropped 0.3 percent. Imports rose mainly from the US (11.7 percent), China (5.7 percent), Switzerland (18.8 percent), Russia (2.1 percent), Japan (1.6 percent), Norway (1.4 percent), Turkey (4.6 percent), South Korea (14 percent), India (4.8 percent) and Canada (10.7 percent).


Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
3/18/2019 10:37:26 AM



Euro Area Trade Last Previous Highest Lowest Unit
Balance of Trade 1547.90 17380.00 30374.00 -16510.20 EUR Million [+]
Current Account 32.99 25.59 55.21 -28.62 EUR Billion [+]
Current Account to GDP 3.00 3.20 3.20 -1.50 percent [+]
Imports 181835.30 160143.40 195273.60 55698.40 EUR Million [+]
Exports 183383.20 177523.40 209145.30 53045.90 EUR Million [+]
External Debt 14450131.93 14295209.69 14450131.93 5501622.00 EUR Million [+]
Capital Flows 81.51 24.05 101.03 -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 March of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
1547.90 17380.00 30374.00 -16510.20 1999 - 2019 EUR Million Monthly
NSA




Country Last Previous
Argentina 372.00 Jan/19
Australia 4549.00 Jan/19
Brazil 3670.00 Feb/19
Canada -4593.40 Dec/18
China 41.18 Feb/19
Euro Area 1547.90 Jan/19
France -4195.00 Jan/19
Germany 14500.00 Jan/19
India -9600.00 Feb/19
Indonesia 329.50 Feb/19
Italy 321.80 Jan/19
Japan 339.00 Feb/19
Mexico -4809.60 Jan/19
Netherlands 2868.00 Jan/19
Russia 13368.00 Jan/19
Saudi Arabia 184673.00 Sep/18
Singapore 5198.50 Feb/19
South Africa -13082.76 Jan/19
South Korea 3098.00 Feb/19
Spain -3247399.00 Dec/18
Switzerland 2037.56 Feb/19
Turkey -2503.45 Jan/19
United Kingdom -3825.00 Jan/19
United States -59769.00 Dec/18


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