Euro area international trade surplus falls to €9.90 billion in November

The euro area recorded a €9.90 billion surplus in trade in goods with the rest of the world in November 2025, according to Eurostat, as declining exports of manufactured goods outweighed a significant improvement in the energy sector’s performance.

This surplus represents a notable decrease from the €15.40 billion recorded in November 2024, reflecting a cooling in international trade activity across the single currency bloc.

The euro area exports of goods to the rest of the world in November 2025 were €240.20 billion, which was a decrease of 3.4 per cent compared with the €248.70 billion recorded in November 2024.

Imports from the rest of the world stood at €230.30 billion during the same period, representing a fall of 1.3 per cent compared with the November 2024 figure of €233.30 billion.

The euro area balance decreased compared to October 2025, with the overall surplus amounting to €9.90 billion, marking a €5.50 billion decline when compared to November 2024, the statistical office noted.

This negative change was mainly due to declines in all groups related to manufactured goods, which were only partially offset by improvements in the energy sector.

The energy deficit saw a marked improvement, narrowing from minus €24.30 billion in November 2024 to minus €17.60 billion in November 2025, according to the official data.

Looking at the broader picture for the first 11 months of the year, the euro area recorded a total surplus of €152.70 billion between January 1, 2025 and November 30, 2025, compared with €156.80 billion in the same period of the previous year.

The euro area exports of goods to the rest of the world rose to €2.70 trillion during this period, an increase of 2.3 per cent, while imports rose to €2.55 trillion, an increase of 2.6 per cent compared with January to November 2024.

Intra-euro area trade rose to €2.42 trillion in the first 11 months of 2025, representing a rise of 1.6 per cent compared with the same period in 2024.

The wider European Union balance showed an €8.10 billion surplus in trade in goods with the rest of the world in November 2025, a decrease from the €11.80 billion surplus seen in November 2024.

The EU exports of goods in November 2025 were €213.80 billion, down by 4.4 per cent compared with the €223.60 billion reported in November 2024.

Imports from the rest of the world into the EU stood at €205.70 billion, which was down by 2.9 per cent compared with the November 2024 figure of €211.80 billion.

The EU balance decreased compared to October 2025, with the negative change mainly driven by a surplus decrease in manufactured goods sectors, particularly machinery and vehicles.

The only group which registered an improvement was the energy sector, with the deficit decreasing from minus €28.20 billion in November 2024 to minus €20.40 billion in November 2025, the report highlighted.

From January 1, 2025 to November 30, 2025, the EU recorded a surplus of €122.40 billion, compared with €128.00 billion in the same eleven-month period of 2024.

The EU exports of goods rose to €2.43 trillion, representing an increase of 2 per cent, while imports rose to €2.31 trillion, an increase of 2.3 per cent.

Intra-EU trade rose to €3.82 trillion in the first 11 months of 2025, which was up 2.2 per cent compared with the previous year.

In November 2025 compared with October 2025, euro area seasonally adjusted exports increased by 1.1 per cent, while imports increased by 2.5 per cent, leading to a seasonally adjusted balance of €10.70 billion.

In the European Union, seasonally adjusted exports increased by 2 per cent while imports increased by 3.5 per cent, resulting in a seasonally adjusted balance of €8.80 billion for November 2025.

Between September 1, 2025 and November 30, 2025, euro area exports to non-euro area countries rose by 1.3 per cent, while imports fell by 1.8 per cent, and intra-euro area trade rose by 0.1 per cent.

During the same three-month period, EU exports to non-EU countries increased by 0.8 per cent, while imports fell by 2.7 per cent and intra-EU trade increased by 0.8 per cent.