Eurozone posts $11.4B trade surplus in April, well below expectations
Exports of goods of euro area down 1.4% year-on-year in April, due to 'substantial reduction' in surplus of chemicals sector
ISTANBUL
The eurozone posted a €9.9 billion ($11.4 billion) foreign trade surplus in April, the region’s statistical bureau Eurostat said on Friday.
The figure significantly fell from a €37.3 billion surplus in the previous month, and came well below market forecasts of a €18.2 billion surplus.
"This decrease was mainly driven by a substantial reduction in the surplus of the chemicals sector, which fell from €42.8 bn to €22.1 bn," Eurostat said in a statement.
The eurozone's exports to the rest of the world fell 1.4% year-on-year in April to €243 billion, while imports ticked up 0.1% to €233.1 billion.
Meanwhile, the EU saw a foreign trade surplus of €7.4 billion in April.
The US continued to be the largest recipient of EU exports due to tariffs, with €47.6 billion, up 3.8% on an annual basis.
On the other hand, EU exports to China fell 15.9% in the same period to €16.3 billion in April.
China was the largest importer to the EU in April, accounting for €44.4 billion, up 8.4% year-on-year.
Meanwhile, imports from Türkiye jumped 5.1% in April to reach €9.1 billion.
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.
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