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- Eurozone trade surplus unexpectedly widened in July
Eurozone trade surplus unexpectedly widened in July
According to the report from Eurostat, the first estimate for euro area (EA19) exports of goods to the rest of the world in July 2019 was €206.5 billion, an increase of 6.2% compared with July 2018 (€194.5 bn). Imports from the rest of the world stood at €181.7 bn, a rise of 2.3% compared with July 2018 (€177.6 bn). As a result, the euro area recorded a €24.8 bn surplus in trade in goods with the rest of the world in July 2019, compared with +€16.9 bn in July 2018. The surplus was expected to shrink to €17.4 bn from €20.6 bn in June 2019. Intra-euro area trade rose to €165.6 bn in July 2019, up by 1% compared with July 2018.
In January to July 2019, euro area exports of goods to the rest of the world rose to €1 369.3 bn (an increase of 3.6% compared with January-July 2018), and imports rose to €1 243.2 bn (an increase of 3.5% compared with January-July 2018). As a result the euro area recorded a surplus of €126.1 bn, compared with +€120.5 bn in January-July 2018. Intra-euro area trade rose to €1 168.7 bn in January-July 2019, up by 1.9% compared with January-July 2018.
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