The first estimate for the euro area (EA18) trade in goods balance with the rest of the world in March 2014 gave a 17.1 billion euro surplus, compared with +21.9 bn in March 2013. The February 2014 balance was +14.2 bn, compared with +9.8 bn in February 2013. In March 2014 compared with February 2014, seasonally adjusted exports fell by 0.5% and imports by 0.6%.

The first estimate for the March 2014 extra-EU28 trade balance was a 3.9 bn euro surplus, compared with +14.7 bn in March 2013. In February 2014 the balance was +4.7 bn, compared with +1.2 bn in February 2013. In March 2014 compared with February 2014, seasonally adjusted exports fell by 1.2% while imports remained stable.

EU28 detailed results for January to February 2014

The EU28 deficit for energy decreased (-59.2 bn euro in January-February 2014 compared with -66.2 bn in January-February 2013), as did the surplus for machinery and vehicles (+35.5 bn compared with +37.3 bn).

The highest increases of EU28 exports were registered with China (+13% in January-February 2014 compared with January-February 2013) and South Korea (+9%), and the highest increases of EU28 imports with South Korea (+11%) and Switzerland (+6%). The most notable decreases were recorded for exports to Russia (-10%),Brazil and Turkey (both -5%), and for imports from Russia (-10%) and Japan (-8%).

The EU28 trade surplus increased with the USA (+14.5 bn euro in January-February 2014 compared with +13.8 bn in January-February 2013), decreased with Turkey (+3.2 bn compared with +3.9 bn) and remained stable with Switzerland (+10.9 bn). The EU28 trade deficit fell with China (-24.1 bn compared with -25.9 bn) and Russia (-16.4 bn compared with -18.1 bn) and remained nearly stable with Norway (-7.5 bn compared with -7.4 bn).

Concerning the total trade of Member States, the largest surplus was observed in Germany (+31.7 bn euro in January-February 2014), followed by the Netherlands (+10.0 bn), Ireland (+5.1 bn) and Italy (+3.0 bn). The United Kingdom (-16.7 bn) registered the largest deficit, followed by France (-13.3 bn), Spain (-4.0 bn) and Greece (-3.6 bn).