Eurozone's Trade Surprise in January

In an unexpected turn of events, the Eurozone recorded a trade surplus in goods of €1 billion in January, a significant drop from the €10.6 billion surplus observed a year ago, as reported by Eurostat on Tuesday. This shift comes amidst a broader context where the European Union faced a trade deficit of €5.4 billion.

Export and Import Trends

Exports from the euro area saw a decrease of 3% year-on-year, totaling €232.6 billion, whereas imports experienced a 7.6% annual growth, reaching €231.5 billion. This dynamic highlights the changing trade patterns within the Eurozone.

Annual Trade Overview

Looking at the broader picture, the Eurozone maintained a trade surplus of €173.8 billion in 2024, a notable increase from the €57.4 billion surplus in 2023. Exports for the year amounted to €2.9 trillion, marking a 0.5% increase from the previous year, while imports saw a 3.6% decline, settling at €2.7 trillion.