Euro Area Trade Surplus At 7-Month High



The first estimate for the euro area trade in goods balance in June of 2014 gave a € 16.8 billion surplus, compared with a € 15.7 billion surplus a year earlier. Exports rose 3 percent while imports increased at a slower 2 percent.

Exports amounted to € 162.2 billion while imports were recorded at € 145.4 billion.

The May 2014 balance was a surplus of € 15.4 bn, compared with +€ 14.6 bn in May 2013. In June 2014 compared with May 2014, seasonally adjusted exports fell by 0.5 percent while imports rose by 0.5 percent. 

The first estimate for the June 2014 extra-EU28 trade balance was a €2.9 bn surplus, compared with +€8.6 bn in June 2013. In May 20142 the balance was +€0.5 bn, compared with +€15.0 bn in May 2013. In June 2014 compared with May 2014, seasonally adjusted exports fell by 0.3 percent and imports by 0.1 percent.

From January to May 20144, the EU 28 deficit for energy decreased as did the surplus for machinery and vehicles. The highest increases in EU 28 exports were registered with China (+10 percent in January-May 2014 compared with January-May 2013) and South Korea (+8 percent), and for EU 28 imports with South Korea (+10 percent), Switzerland and Turkey (both +6 percent). The most notable decreases were recorded for exports to Switzerland (-22 percent), Russia (-12 percent) and India (-11 percent), and for imports from Russia (-8 percent), Brazil (-7 percent) and Japan (-6 percent).

The EU 28 trade surplus increased with the USA (+€41.8 bn in January-May 2014 compared with +€37.8 bn in January-May 2013), but decreased with Switzerland (+€19.2 bn compared with +€38.0 bn) and Turkey (+€8.3 bn compared with +€12.0 bn). The EU 28 trade deficit fell with China (-€50.9 bn compared with -€53.0 bn) and Russia (-€38.6 bn compared with -€39.6 bn) and remained stable with Norway (-€16.9 bn).

Euro Area Trade Surplus At 7-Month High


Eurostat | Joana Taborda | joana.taborda@tradingeconomics.com
8/18/2014 1:03:49 PM