Euro Area Trade Surplus Widens in March

The Eurozone trade surplus increased to € 23.4 billion in March of 2015 from a € 16.1 billion surplus a year earlier, as exports of goods were up 11 percent and imports grew at a slower 7 percent.
Eurostat | Joana Ferreira | 5/19/2015 2:25:51 PM
Euro Area exports reached € 182.4 billion and imports stood at € 159.1 billion. Intra-euro area trade rose 5 percent year-on-year.

Considering the first three months of 2015, exports of goods rose to € 491.2 billion (+5 percent over a year earlier), while imports remained nearly stable at €438.6 billion.

In the European Union, exports were recorded at €162.5 billion in March, up 14 percent year-on-year. Imports stood at €151.7 billion, up 9 percent, thus resulting in a € 10.7 billion trade surplus. 

In the first three months of 2015, EU exports rose to € 427.4 billion (+5 percent compared to January-March 2014) while imports increased to 423.6 billion (+2 percent over a year earlier).

While shipments of manufactured goods rose 8 percent, boosted by chemicals, machinery and vehicles products; primary goods sales fell 9 percent, driven by a 28 percent fall in the energy sector. Exports to United States and South Korea recorded the highest increase (+21 percent and +20 percent, respectively) while sales to Russia decreased the most (-34 percent).

Among imports, purchases of manufactured goods expanded 16 percent, while acquisition of primary goods fell 21 percent due to lower demand in the energy market. As a result, imports from Canada, China and United States grew 31 percent, 25 percent and 21 percent, respectively. At the same time imports from Russia (-31 percent) and Norway (-20 percent) contracted the most. 

Euro Area Trade Surplus Widens in March