Financial News: Eurozone April Trade Balance Swings To Surplus

Eurozone April Trade Balance Swings To Surplus

(RTTNews) - Euro area visible trade balance logged a surplus in April this year versus a deficit in the same month last year, as exports growth far exceeded imports, preliminary data from Eurostat showed Friday.

The non-seasonally adjusted trade balance showed a surplus of EUR 15.0 billion for April, while there was a EUR 11.1 billion. Economists had expected a surplus of EUR 17.0 billion.

The trade surplus decreased from March's EUR 23.7 billion due to a rise in the energy trade deficit from EUR 23.7 billion to EUR 26.2 billion. Meanwhile, the surplus for chemicals trade shrunk from EUR 23.4 billion from EUR 21.2 billion.

Exports from the single currency bloc grew 14.0 percent year-on-year in April and imports to the region rose 1.8 percent.

During the January to April period, euro area logged a trade surplus of EUR 72.8 billion versus a deficit of EUR 20.5 billion in the same period last year.

Exports to the rest of the world increased 0.8 percent, while imports declined 8.9 percent.

Intra-euro area trade decreased by 5.1 percent year-on-year to EUR 874.9 billion in the first four months of the year.

The seasonally adjusted trade surplus for Eurozone grew to EUR 19.4 billion in April from EUR 17.2 billion in March. Exports increased 3.1 percent and imports rose 2.3 percent from the previous month.

The EU trade balance showed a surplus of EUR 13.9 billion for April versus a deficit of EUR 14.2 billion in the same month last year. Extra-EU exports grew 14.9 percent and imports edged up 0.3 percent.

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