Euro Area Trade Surplus Widens in August

The trade surplus in the Euro Area increased to €18.4 billion in August of 2016 from a €11.2 billion surplus a year earlier and above market estimates of a €15.3 billion. Exports recovered, rising the most in 14 months and imports increased for the first time in six months although at a slower pace.

Exports rose 8 percent year-on-year to €160.3 billion,  the biggest gain since June of 2015 and following a 9.5 percent deop in July. Imports increased 3.7 percent to €141.9 billion, the biggest rise since November. 

Considering the first eight months of the year, Eurozone sales declined 1 percent and imports fell 3 percent. Considering the European Union, shipments slumped 4 percent: energy recorded the biggest drop (-23 percent), followed by raw materials (-6 percent), machinery and vehicles (-3 percent), other manufactured goods (-3 percent) and chemicals (-1 percent). In contrast, food sales increased 2 percent. Among main export partners, sales to South Korea fell the most (-10 percent), followed by Switzerland (-8percent); Russia (-4 percent); Turkey (-4 percent); India (-4 percent); the US (-3 percent) and China (-3 percent). Total imports declined 3 percent, mainly due to a 20 percent slump in primary goods, namely energy (-28 percent). China was the main import partner with sales falling by 2 percent, followed by the US (-1 percent). 

On a seasonally adjusted basis, exports in the common currency zone increased 2.3 percent from July of 2016 and imports rose at a slower 0.9 percent, thus widening the trade surplus by 12 percent to € 23.3 billion.

Euro Area Trade Surplus Widens in August

Eurostat | Joana Taborda |
10/14/2016 9:33:27 AM