Eurozone trade surplus drops to 20-month low

(Sharecast News) - The eurozone's trade surplus with the rest of the world was at its lowest in nearly two years in January, according to data out on Tuesday from Eurostat, coming in well below forecasts. The single-currency region's trade balance stood at €1.0bn in the first month of the year, sharply down from the €15.4bn surplus recorded in December and the €10.6bn surplus seen in January 2024.

This was the lowest surplus since May 2023, while the consensus estimate was for a figure closer to €14bn.

Eurozone exports totalled €232.6bn, rising 3% year-on-year, but imports jumped 7.6% to €231.5bn.

The biggest drivers of the sharp surplus decrease from December was a big drop in the trade surplus of machines and vehicles, which fell to €7.4bn from €16.5bn the month before, and 'other manufactured goods' which recorded a deficit of €4.6bn compared with a €1.2bn surplus previously.