Dukascopy Bank Team
Dukascopy Bank SA
Fundamental Analysis
EUR
"An improved traded good performance in November is supportive to belief that Eurozone GDP growth improved in the fourth quarter of 2016."
- Howard Archer, HIS Markit
The Euro zone's trade surplus expanded more than expected in November, official figures showed on Monday. According to Eurostat, the Euro zone's trade surplus increased to €22.7 billion, following the previous month's upwardly revised €19.9 billion and surpassing analysts' expectations for an acceleration to €20.8 billion. Back in November, exports and imports rose 3.3% and 1.8%, respectively. Furthermore, the region's surplus with the rest of the world advanced to €25.9 billion on an annual basis, compared to the previous year's €22.9 billion. On a yearly basis, exports climbed 6% to €184.2 billion, while shipments from abroad rose 5% to €158.3 billion from November's €150.9 billion a year ago. Consequently, the Euro zone posted a €25.9 billion surplus in trade in goods with the rest of the world in the reported month, compared to a surplus of €22.9 billion registered in the same month one year ago. On a yearly basis, exports grew 6% to €184.2 billion, while shipments from abroad rose 5% to €158.3 billion. The value of goods exports from January to November stood at €1869.0 billion, since imports declined 2.0%. During the same period in 2015, the region's trade surplus widened to €248.2 billion from €214.3 billion.
After the release, there was no significant market response.
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