The Eurozone trade surplus widened to EUR 20.72 billion in November 2019 from EUR 18.19 billion in the same month last year, below market expectations of EUR 23.3 billion. Exports dropped 2.9 percent, due mostly to falling sales of machinery & transport equipment, manufactured goods, and mineral fuels, lubricants & related materials. In contrast, there were increases in exports of chemicals & related products, miscellaneous manufactured articles, and food & live animals. Among key trade partners, exports were down to the US, the UK and China. Meanwhile, imports plunged 4.6 percent, mainly due to lower purchases of machinery & transport equipment, mineral fuels, lubricants & related materials, miscellaneous manufactured articles, and chemicals & related products. Imports declined from almost all trade partners, in particular from China, the US and the UK.
Balance of Trade in the Euro Area averaged 6664.78 EUR Million from 1999 until 2019, reaching an all time high of 30614.30 EUR Million in July of 2015 and a record low of -16297.90 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. source: Eurostat
Balance of Trade in Euro Area is expected to be 19900.00 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 7000.00 in 12 months time. In the long-term, the Euro Area Balance of Trade is projected to trend around 13000.00 EUR Million in 2020, according to our econometric models.