Euro Area Trade Surplus Narrows in March

The first estimate for the Euro Area trade balance gave a € 17.1 billion surplus in March of 2014 down from a € 21.9 billion surplus a year earlier, mainly due to a fall in exports.

Euro Area non-seasonally adjusted exports fell 1 percent year-on-year in March to € 164 billion, while imports increased 2 percent to € 146.9 billion. On a monthly basis, seasonally adjusted exports fell by 0.5 percent and imports by 0.6 percent. 

Considering the first three months of 2014, exports grew 1 percent year-on-year to € 465.6 billion and imports showed no growth at € 433.8 billion. 

Considering the period January to February 2014, the EU 28 deficit for energy decreased, as did the surplus for machinery and vehicles. The highest increases of EU 28 exports were registered with China (+13 percent in January-February 2014 yoy) and South Korea (+9 percent), and the highest increases of EU 28 imports with South Korea (+11 percent) and Switzerland (+6 percent). The most notable decreases were recorded for exports to Russia (-10 percent), Brazil and Turkey (both -5 percent), and for imports from Russia (-10 percent) and Japan (-8 percent). 

Euro Area Trade Surplus Narrows in March

Eurostat | Joana Taborda |
5/16/2014 10:21:40 AM