The Euro Area trade surplus widened to EUR 27.9 billion in July 2020 from EUR 23.2 billion in the corresponding month of the previous year. Exports dropped 10.4 percent, led by lower sales of mineral fuels, lubricants and related materials (-41.6 percent), manufactured goods classified chiefly by material (-15.0 percent), machinery and transport equipment (-11.7 percent), miscellaneous manufactured articles (-11.7 percent), crude materials, inedible, except fuels (-7.0 percent) and chemicals and related products (-3.0 percent). Imports fell 14.3 percent, due to purchases of mineral fuels, lubricants and related materials (-42.1 percent), machinery and transport equipment (-11.4 percent), miscellaneous manufactured articles (-11.3 percent), chemicals and related products (-10.6 percent), manufactured goods classified chiefly by material (-10.5 percent), crude materials, inedible, except fuels (-12.2 percent), and food, drinks and tobacco (-7.9 percent).
Balance of Trade in the Euro Area averaged 6949.25 EUR Million from 1999 until 2020, reaching an all time high of 30614.30 EUR Million in July of 2015 and a record low of -16418.80 EUR Million in January of 2011. This page provides the latest reported value for - Euro Area Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Euro Area Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: Eurostat
Balance of Trade in Euro Area is expected to be 23300.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Euro Area to stand at 16200.00 in 12 months time. In the long-term, the Euro Area Balance of Trade is projected to trend around 31000.00 EUR Million in 2021 and 26000.00 EUR Million in 2022, according to our econometric models.