Euro Area Trade Surplus Widens in September

The Eurozone trade surplus increased 71.3 percent year-on-year to € 18.5 billion in September of 2014, driven by a surge in exports.
Eurostat | Joana Taborda | 11/17/2014 10:35:28 AM
Exports increased 8.5 percent year-on-year to € 171.9 billion and imports grew 4 percent to € 153.4 billion. In September compared with August, seasonally adjusted exports rose by 5.8 percent and imports by 3.2 percent.

The first estimate for the September 2014 extra-EU 28 trade balance was a €2.6 bn surplus, compared with -€0.7 bn in September 2013. 

From January to August, the highest increases in EU28 exports were registered with China (+10 percent in January-August 2014 compared with January-August 2013), South Korea (+8 percent) and the United States (+4 percent), and for EU 28 imports with South Korea (+9 percent), Turkey (+6 percent), China and Switzerland (both +5 percent). The most notable decreases were recorded for exports to Switzerland (-23 percent), Russia (-12 percent) and India (-9 percent), and for imports from Russia and Norway (both -8 percent) and Brazil (-5 percent).

The EU28 trade surplus increased with the USA (+€65.1 bn in January-August 2014 compared with +€60.8 bn in January-August 2013), but decreased with Switzerland (+€26.0 bn compared with +€56.0 bn) and Turkey (+€12.6 bn compared with +€18.9 bn). The EU28 trade deficit fell with Norway (-€23.7 bn compared with -€28.0 bn), and remained nearly stable with China (-€85.4 bn compared with -€85.3 bn) and Russia (-€58.0 bn compared with -€59.0 bn).

Concerning the total trade of Member States, the largest surplus was observed in Germany (+€138.8 bn in January-August 2014), followed by the Netherlands (+€38.5 bn), Italy (+€26.2 bn), Ireland (+€23.2 bn) and the Czech Republic (+€10.8 bn). The United Kingdom (-€89.8 bn) registered the largest deficit, followed by France (-€49.3 bn), Spain (-€16.6 bn) and Greece (-€13.6 bn).

Euro Area Trade Surplus Widens in September