Eurozone Trade Surplus Narrows Sharply in July



The Eurozone trade surplus fell 18.6 percent to €25.3 billion in July 2016 compared to a €31.1 billion in the same month of the previous year, but beating market expectations of €25 billion. Exports declined 10 percent while imports dropped at a slower 8 percent. Considering the first seven months of the year, the trade surplus increased to €160.6 billion, compared with €140.9 billion in the same period of 2015.

Exports of goods to the rest of the world fell 10 percent to €167.2 billion from €185.4 billion a year earlier; while imports declined 8 percent to €142 billion compared to €154.4 billion.

In January to July 2016, exports fell 2 percent year-on-year to €1,173.9 billion and imports dropped 4 percent to €1,013.3 billion, resulting in a surplus of €160.6 billion, compared with €140.9  billion in the same period a year earlier.

The European Union recorded a €3.8 billion surplus in trade in goods with the rest of the world, compared with a €12.7 billion surplus in July 2015. Exports went down 13 percent to €142 billion from €162.3 billion a year earlier; while imports decreased 8 percent to €138.2 billion compared to €149.6 billion.

In January to July 2016, the European Union recorded a surplus of €20.7 billion, compared with €31 billion in January-July 2015. Exports of goods dropped 5 percent to €993.2 billion from €1,050.6 billion in the same period a year earlier, led by a fall in sales of energy (-26 percent), raw materials (-8 percent), machinery and vehicles (-4 percent) and other manufactured goods (-4 percent); and imports contracted 5 percent to €972.4 billion from €1,019.5 billion, as purchases declined the most for energy (-30 percent) and raw materials (-10 percent). Among trading partners, the biggest decreases in shipments were reported for South Korea (-12 percent), Switzerland (-8 percent) and Russia (-6 percent); while the decline in imports mainly reflected the strong fall in purchases from Russia (-22 percent), Norway (-21 percent) and Canada (-7 percent).

Eurozone Trade Surplus Narrows Sharply in July


Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/15/2016 9:24:36 AM