FX.co ★ Euro Area Trade Surplus Narrows More than Expected

The Euro Area trade surplus narrowed to €11.5 billion in February 2026 from €23.1 billion a year earlier, coming in just below market expectations of €11.7 billion. Exports declined 6.7% year-on-year to €232.4 billion, while imports fell 2.2% to €220.9 billion, shrinking the trade surplus by €11.6 billion. The chemicals sector recorded a particularly steep contraction in its surplus, dropping to €16.2 billion from €30.4 billion, and the surplus in machinery and vehicles also weakened, falling to €10.2 billion from €14.2 billion. By contrast, the energy deficit narrowed to €20.0 billion from €25.2 billion. For the first two months of 2026, the Euro Area registered a cumulative trade surplus of €10.6 billion, down from €21.8 billion in the same period a year earlier.