Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Euro zone July trade surplus up, on rising exports, cheap energy

Published 15/09/2015, 10:03
© Reuters. A rainbow is seen behind European flags during a euro zone EU leaders emergency summit in Brussels

BRUSSELS (Reuters) - The euro zone's trade surplus with the rest of the world jumped year-on-year in July as exports surged 7 percent while imports increased by only 1 percent because of much cheaper imported energy, the European Union's statistics office data showed.

Eurostat said the seasonally unadjusted trade surplus of the 19 countries sharing the euro rose to 31.4 billion euros ($35.5 billion) in July from 21.2 billion a year earlier.

For the whole of the European Union of 28 countries, the unadjusted trade surplus was 12.9 billion euros in July against 1.2 billion the year before.

The main difference was imported energy -- in the first seven months of 2015, the value of imported energy such as gas and oil to the EU was 201.3 billion euros, while a year earlier, when prices were higher, the imports totalled 268.7 billion.

EU imports from Russia -- the main energy provider for Europe -- plunged 26 percent in the January-July period.

The EU's exports to Russia -- which imposed counter-sanctions on EU goods in reaction to the EU's sanctions over the war in Ukraine -- tumbled 31 percent in the same period.

© Reuters. A rainbow is seen behind European flags during a euro zone EU leaders emergency summit in Brussels

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.