Intermoney | Eurozone trade balance statistics for August were disappointing as the trade surplus narrowed significantly to €11 billion (estimated at €17.6 billion). At the same time, the July figures were revised downward to a surplus of 13.7 billion euros. The euro area's external trade surplus also contracted, mainly due to a decline in exports of machinery and vehicles. Trade tensions were evident, with exports to China falling 11% year-on-year, with weak domestic activity also having an impact. Although recent stimulus measures from the Chinese government may spur a recovery in activity, recently passed tariffs will do nothing to increase our sales to China. In addition to international trade tensions caused by protectionist policies, another risk to trade in the coming months is geopolitical concerns, which have recently been exacerbated by rising tensions in the Middle East.
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The Corner
The Corner has teams of reporters in the field in capitals from New York to Beijing. Their articles are edited by the team from the Spanish magazine Consejeros (for members of corporate boards) and the stock market news site Consenso Del Mercado (Market Consensus). They have been working in economics and communications for over 25 years.
