Euro Area Swings to Trade Surplus; Italian Exports Up 7.3%

Arthi Gupta
16 Apr, 2012
New York City

Euro area trade balance swung to a surplus, employment in the German manufacturing sector and Italian exports increased in February. Danish output prices climbed and Norwegian trade surplus rose to a record high in March.

[R]12:30 PM Frankfurt – Euro area trade balance swung to a surplus, employment in the German manufacturing sector and Italian exports increased in February. Danish output prices climbed and Norwegian trade surplus rose to a record high in March.[/R]

Euro-zone Swings to Surplus

Euro-zone''s trade balance swung to a surplus of €2.8 billion in February compared to a revised €7.9 billion deficit in January, data from Eurostat showed today. In February last year, the balance was in a deficit of €2.8 billion.

Exports rose 11% from a year ago in February, while imports grew 7%.

German Factory Employment Improves

Employment in the German manufacturing sector rose from last year in February, data released by the Federal Statistics Office showed today.

The number of persons working in industrial units with 50 or more employees increased 3.4% from a year ago to around 5.17 million in February.

Danish Output Prices Climb

Denmark''s producer price index for domestic supply increased 2.7% on an annual basis in March, data released by Statistics Denmark showed.

Prices of fuel and lubricants gained 15% annually, while prices of raw materials for non-agricultural industries advanced 2.9% in March.

From a month ago, producer prices rose 0.8% in March.

Italian Exports Rise

Italy''s exports increased 7.3% on an annual basis to €31.76 billion in February, preliminary data released by statistics office Istat showed.

Imports advanced 0.8% from a year ago to €32.87 billion in February.

Swiss Producer & Import Prices Fall

Swiss producer and import price index fell 2% on an annual basis in March, after dropping 1.9% in February, according to data released by the Swiss Federal Statistical Office today.

From a month ago, the producer and import price index rose 0.3% in March, following a 0.8% gain in February.

Norwegian Surplus Increases

Norway''s trade surplus rose to a record high in March. Statistics Norway said that the trade surplus was NOK 46.4 billion in March, 46% higher than the same month last year and higher than February''s surplus of NOK 45.3 billion.

Exports surged to NOK 88.9 billion in March, 11.5% higher on an annual basis. Imports declined 11.4% to NOK 42.5 billion.