Zone euro Balance Commerciale

The Eurozone recorded a trade surplus of €1 billion in January of 2025, narrowing from the downwardly revised surplus of €10.6 billion in the corresponding period of the previous year, and contrasting sharply from market expectations of a €14 billion trade surplus. It marked the lowest trade balance since the series of deficits triggered by the energy security crisis ended in May 2023, as imports surged by 7.6% to €231.5 billion, largely due to a fresh surge in manufactured goods, while exports rose by a softer 3% to €232.6 billion. In the meantime, the broader European Union recorded a trade deficit of €5.4 billion from the surplus of €6.7 billion last year. The balance for manufactured goods net of machinery, vehicles, and chemicals swung sharply to a deficit of €7.8 billion from a surplus of €0.2 billion. In the meantime, exports by the EU to the US took the spotlight and grew by 16% to €46.7 billion as firms front-loaded sales amid the risk of tariffs by the Trump administration.