2020.06.1509:24:00UTC+00Eurozone Trade Surplus Lowest Since 2011

The euro area trade surplus reached its lowest since late 2011 as both exports and imports logged the biggest contraction on record in April amid coronavirus pandemic, data from Eurostat showed Monday.

The trade surplus plunged to a seasonally adjusted EUR 1.2 billion in April from EUR 25.5 billion in March. This was the lowest since October 2011.

Exports and imports decreased by a record 24.5 percent and 13 percent on month, respectively in April.

On a yearly basis, exports were down 29.3 percent and imports decreased 24.8 percent in April. The unadjusted trade surplus was EUR 2.9 billion versus EUR 15.5 billion in the same period last year.

During January to April period, exports declined 8.6 percent and imports decreased 9.3 percent annually. Consequently, the trade balance showed a surplus of EUR 57 billion compared to a EUR 57.2 billion surplus in the previous year.