The euro area trade balance shifted to a deficit in April due to the surge in imports, according to official data released Monday.
The trade balance showed a shortfall of EUR 1.0 billion compared to a surplus of EUR 4.9 billion in March. In the same period last year, the trade surplus totaled EUR 8.7 billion. The decline was primarily driven by an increase of the energy deficit and by a reduced surplus in the machinery and vehicles product group, Eurostat reported. Exports of goods rebounded 5.0 percent in April, in contrast to the 5.1 percent fall in March. At the same time, growth in imports accelerated to 9.3 percent from 5.9 percent a month ago.
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