Eurozone Trade Surplus Narrows in April

The euro area’s trade surplus with non-EU countries fell to €9.9 billion in April 2025, down from €13.6 billion a year earlier, according to Eurostat. This marks a sharp drop from March’s €37.3 billion surplus, largely driven by a 1.4% decline in exports to €243.0 billion. Imports remained steady at €233.1 billion.

Chemicals and Machinery Weigh on Surplus

A significant contributor to the decline was the chemicals sector. Its trade surplus shrank to €22.1 billion in April, nearly half of the €42.8 billion recorded in March. Additionally, the surplus in the machinery and vehicles category also fell year-over-year, further dampening the trade balance.

EU-Wide Figures Show Similar Trend

The broader European Union also experienced a trade surplus reduction. In April, the EU27 recorded a €7.4 billion surplus with non-EU countries, compared to €12.8 billion in April 2024. Exports rose 1.1% to €228.4 billion, but imports increased at a faster rate of 3.7%, reaching €221.0 billion.

Strong Start to the Year Despite April Slowdown

Despite the weaker April figures, the first four months of 2025 indicate overall resilience. The euro area posted a €71.0 billion cumulative trade surplus, up from €68.6 billion in the same period last year. The EU’s year-to-date surplus reached €58.9 billion, slightly below 2024’s €63.7 billion.

Year-on-year, both exports and imports grew more than 5 percent across the euro area and the EU. This suggests that while sector-specific pressures have emerged, global demand has remained relatively strong so far in 2025.