Eurozone runs $1B trade balance surplus in January, well below forecasts

By Mucahithan Avcioglu

ISTANBUL (AA) - The eurozone posted a €1 billion ($1.09 billion) surplus in January, the region’s statistical bureau Eurostat said on Tuesday.

The figure significantly fell from a €10.6 billion surplus in January 2024, and came well below the market forecasts of a €14 billion surplus.

Eurozone's exports to the rest of the world climbed 3% year-on-year in January to €232.6 billion, while imports increased 7.6% to €231.5 billion.

Meanwhile, the EU27 registered a trade deficit of €5.4 billion in January, compared to a surplus of €6.7 billion in January 2024.

The US was the largest recipient of EU exports with €46.7 billion, up 16% on an annual basis.

The UK was the second-largest recipient of exports with a 1% increase to €28.1 billion, followed by China with a 13.3% decrease to €14.8 billion, Switzerland with a 6.6% hike to €17.2 billion, and Türkiye with €8.8 billion, up 4.6%.

Meanwhile, China was the largest importer to the EU in January, accounting for €44.8 billion, with a jump of 19.2% year-on-year.

The US was the second-largest importer to the EU with €30.5 billion, up 7.5%, followed by the UK with €12.9 billion and a 3.7% fall, Switzerland with €11.6 and a 6.6% climb, and Türkiye with €9.2 billion, up 11.4%.

The eurozone/euro area, or EA20, represents member states that use the bloc's single currency, the euro, while the EU27 includes all of its member countries.