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Eurozone Trade Surplus Falls In November

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Eurozone's merchandise trade surplus decreased strongly in November, as the growth in imports outpaced that of exports.

The trade surplus fell to EUR 19 billion from EUR 23.4 billion in the same month last year, figures from the euro area statistical office Eurostat showed on Tuesday.

Exports increased 1.9 percent year-on-year and imports rose 4.7 percent. Trade within the euro area grew 1.5 percent year-on-year.

In the January to November period, exports rose 4.2 percent from a year ago and imports climbed 6.6 percent. The trade surplus decreased to EUR 175.2 billion from EUR 210.4 billion in the same period last year.

On a seasonally adjusted basis, the trade surplus rose to EUR 15.1 billion from EUR 13.5 billion in October.

That was the biggest surplus in three months. Economists had forecast a lower surplus of EUR 12.8 billion. Seasonally adjusted exports decreased 1 percent month-on-month and imports fell 1.9 percent.

In the EU28, exports increased an unadjusted 2.6 percent year-on-year and imports grew 7.6 percent in November.

The trade balance swung to a deficit of EUR 3.2 billion from a surplus of EUR 4.9 billion a year ago.

In the January to November period, the EU28 trade balance dropped to a deficit of EUR 25.2 billion from EUR 9 billion surplus in the same period last year.

Exports grew 4.7 percent year-on-year and imports grew 6.7 percent.

During the eleven-month period, energy exports increased 17 percent and imports surged 25.3 percent. Chemical shipments grew 7.8 percent.

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