The Euro Area trade surplus narrowed to €11.5 billion in February 2026 from €23.1 billion a year earlier, slightly below expectations of €11.7 billion. Exports fell 6.7% year on year to €232.4 billion, while imports declined 2.2% to €220.9 billion, reducing the surplus by €11.6 billion. The chemicals sector saw a sharp drop in its surplus to €16.2 billion from €30.4 billion, while machinery and vehicles also weakened, with the surplus falling to €10.2 billion from €14.2 billion. In contrast, the energy deficit improved to €20.0 billion from €25.2 billion. Over the first two months of 2026, the Euro Area posted a cumulative surplus of €10.6 billion, down from €21.8 billion in the same period last year.

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