Trade

Europe’s trade in goods – smaller EU deficit, growing EZ surplus

Eurostat today published its first estimate of the February 2015 trade in goods position for the EU as a whole, and for the 19-country Eurozone.  In February compared with January 2015, euro area seasonally adjusted exports increased by 2.8%, while imports increased by 2.6%. The seasonally adjusted balance was +€22.0 bn, an increase compared with January (+€21.2 bn).  Not seasonally adjusted, the balance was €20.3 bn.   The Eurozone's economy seems to be significantly based on maintaining large trade surpluses, which require equal ongoing trade deficits from elsewhere in the rest of the EU and world.