The surplus of the euro area foreign trade balance declined less than expected but the surplus in the euro area’s foreign trade balance declined in June compared with a year earlier, but increased by May, according to preliminary data published by Eurostat on Thursday, according to the Statistical Office of the European Union.
In June, Eurostat’s first estimate was that over EUR 22.5 billion in the 19 member states of the euro area have emerged after the rest of the world. A year earlier, June 2017 was € 25.7 billion in surplus.
The market expects a surplus of EUR 18.0 billion in June following the EUR 16.5 billion surplus in May.
Euro area exports grew by 5.7 percent to 198.6 billion euros and imports rose by 8.6 percent to 176.1 billion euros in June, from 187.9 billion euros to 162.2 billion euros a year earlier.
In June this year, 19 Member States in the euro area have traded goods worth 170.7 billion euros, an increase of 7.1 percent over the previous year.
From January to June, euro area exports increased by 3.1 percent to EUR 1124.6 billion from the corresponding period of the previous year, and imports increased by 3.8 percent to EUR 1023.8 billion. Foreign trade surplus was 5.5 percent higher, EUR 980.6 billion.
The European Union’s 28 member states exported goods worth 171.5 billion euros in June to the rest of the world, and imports of 164.6 billion euros. Export rose 8.2 percent, import rose 8.4 percent in June, compared with a year earlier. In June this year, a surplus of EUR 6.9 billion was generated in foreign trade of goods, after EUR 6.6 billion a year earlier.
The 28 EU Member States traded 304.8 billion euros each year this year, a 5.4 percent increase over the previous year.
In January-June, the EU exported goods worth EUR 956.8 billion worth EUR 960.7 billion, resulting in a deficit of EUR 3.9 billion, following a deficit of EUR 1.2 billion a year earlier. Exports increased by 2.5 percent, imports by 2.8 percent year-on-year.
Trade in the European Union in January-June was EUR 1,764.8 billion, up 5.0 percent over one year.
With the United States, EUR 66.9 billion in 28 EU member states developed in January-June, up from 56.2 billion a year earlier. Export rose 3.9 percent to 197.8 billion, import dropped 2.4 percent to 130.9 billion.
In the external trade with China, the EU experienced a deficit of EUR 81.2 billion in the first six months of this year, compared to a deficit of 83.6 billion euros last year. EU exports increased by 3.9 percent to € 100.8 billion, its imports dropped by 0.8 percent to € 182.0 billion.
Russia increased its exports by 1.4 percent to 42.2 billion euros in the first six months of the year and its imports rose 8.3 percent to 81.2 billion euros, leading to a deficit of 39.1 billion euros this year, compared to last year’s 33.5 billion euro after deficit.
Hungary’s export rose by 5 percent to EUR 53.4 billion in the first six months of the year and its imports increased by 7 percent to EUR 50.5 billion, resulting in a trade surplus of EUR 2.9 billion last year on the EUR 3.4 billion surplus.
With the 28 member states of the EU, a trade surplus of 5.5 billion euros was generated in Hungary during the first six months of this year, after last year’s EUR 5.2 billion. Exports rose by 7 percent to € 43.8 billion, while imports rose by 7 percent to € 38.3 billion.
Trade with the rest of the world outside the European Union has led to a deficit of 2.6 percent this year and 1.8 percent in the first six months of the year. Hungarian exports were EUR 9.6 billion, unchanged from one year earlier, while imports increased by 7 percent to EUR 12.2 billion.