FX.co ★ Eurozone April Trade Balance Swings To Surplus

In April, the euro area's visible trade balance recorded a surplus, reversing a deficit from the same month last year, as export growth significantly outpaced imports, according to preliminary data from Eurostat released on Friday.

The non-seasonally adjusted trade balance reflected a surplus of EUR 15.0 billion for April, compared to a deficit of EUR 11.1 billion in the prior year. Economists had anticipated a surplus of EUR 17.0 billion.

The trade surplus saw a decline from March's figure of EUR 23.7 billion, attributed to a rise in the energy trade deficit, which increased from EUR 23.7 billion to EUR 26.2 billion. Meanwhile, the surplus in chemicals trade decreased from EUR 23.4 billion to EUR 21.2 billion.

Year-on-year, exports from the euro area grew by 14.0 percent in April, while imports to the region rose by 1.8 percent.

For the period from January to April, the euro area reported a trade surplus of EUR 72.8 billion, up from a deficit of EUR 20.5 billion in the same period last year.

Exports to non-euro area countries increased by 0.8 percent, whereas imports declined by 8.9 percent.

Intra-euro area trade saw a year-on-year decrease of 5.1 percent, totaling EUR 874.9 billion in the first four months of the year.

The seasonally adjusted trade surplus for the Eurozone grew to EUR 19.4 billion in April, up from EUR 17.2 billion in March. Monthly, exports increased by 3.1 percent, and imports rose by 2.3 percent.

The European Union's trade balance showcased a surplus of EUR 13.9 billion for April, contrasting with a deficit of EUR 14.2 billion in the same month of the previous year. Extra-EU exports rose by 14.9 percent, while imports saw a marginal increase of 0.3 percent.