International Trade in Goods Surplus in Euro Area and European Union

The euro area are celebrating an year on year increase in their trade surplus with the rest of the world in March, according to Eurostat.

The first estimate on the total of exported goods reached 177.8 billion euros, this was down by 3% on the figure for March last year, but due to the level of imports falling by 0.8%, the surplus was greater.

Intra euro area trade fell to 149.3 billion euros in March this year, a reduction in trade activity by 2% from the corresponding month a year ago.

Across the whole of the European Union (EU) trade bloc, the surplus was a more modest 7.2 billion euros with the rest of the world, 0.5 billion euros higher than March 2015.

Exports of goods from the EU globally reached 150.7 billion euros, which was a year on year fall of 7%, last March the total amount of trade climbed up to 162.4 billion euros.

Imports into the EU from the rest of the world stood at 143.5 billion euros, down by 8% compared with March 2015, where goods brought into the area totalled 155.7 billion euros.

In a similar pattern to the euro area, intra trade in the EU fell by 2% year on year, trade within the EU reached 270.9 billion in March 2016.

UK Consumer Price Index Rises But Eases

Official figures have revealed that the latest Consumer Price Index (CPI) rose by 0.3% in April this year, which dashed the expectations of matching the March figure of 0.5%.

The fall is the first recorded since September last year, where reductions in air fares and prices for clothing, vehicles, plus social housing rent, were the main contributors to the decrease in the level of prices.

In total, transport prices fell by 0.2%, while food and non alcoholic beverages declined by 0.3%.

There were rising prices in motor fuels and for selected recreational goods and cultural services, and by food prices, which were unchanged between March and  April.

As expected, the Bank of England retained the inflation rate at 0.5% last week, but they said that they expected inflation to rise in the second half of the year.

In another data report, the UK’s Office of National Statistics have said that average house prices had increased by 9% over the year leading into March.

This was due to potential landlords rushing to buy new properties, before higher tax duties on property purchasing was introduced.

Number of German Manufacturing Employees Increases

In March there was a year on year 1% increase in the amount of those employed in the German manufacturing sector, a rise of around 51,000, according to the federal statistical office.

Although there was a decrease in the number of hours worked in the industries, by 3.2% from a year earlier. In total, there was 717 million hours worked in the manufacturing sector.

Earnings reached to 21.6 billion euros, which was 2.4% more than in March 2015.

Meanwhile, turnover in German accommodation and food service activities hiked by 1.1% in real terms in March compare to a year ago.

In the first quarter of this year, accommodation and food turnover was higher than the same period last year by 1.8%.