A minor increase recorded in Eurozone employment in the first quarter of 2014. Eurostat, the statistical office of the European Union, announced that employment in Eurozone was up only by 0.1 per cent. On the other hand, Eurozone recorded a international trade in goods surplus of 15.7 bn euro in April.
Employment up by 0.1% in euro area and by 0.2% in the EU28
The number of persons employed increased by 0.1% in the euro area (EA18) and by 0.2% in the EU28 in the first quarter of 2014 compared with the previous quarter, according to national accounts estimates published by Eurostat. In the fourth quarter of 2013, employment also increased by 0.1% in the euro area and by 0.2% in the EU28. These figures are seasonally adjusted.
Compared with the same quarter of the previous year, employment increased by 0.2% in the euro area and by 0.7% in the EU28 in the first quarter of 2014 (after -0.4% and 0.0% respectively in the fourth quarter of 2013).
According to estimates from Eurostat, 224.2 million men and women were employed in the EU28, of which 146.1 million were in the euro area, in the first quarter of 2014. These figures are seasonally adjusted.
These quarterly data on employment provide a picture of labour input consistent with the output and income measure of national accounts.
Employment growth in Member States
Among Member States for which data are available, Hungary (+1.5%), Latvia (+0.8%), the United Kingdom (+0.6%), the Czech Republic and Poland (both +0.5%) recorded the highest increases in the first quarter of 2014 compared with the previous quarter. Cyprus (-1.2%), Portugal (-0.3%), Lithuania and Finland (both -0.2%) and Italy (-0.1%) recorded the only decreases.
Euro area international trade in goods surplus 15.7 bn euro
The first estimate for the euro area (EA18) trade in goods balance with the rest of the world in April 2014 gave a 15.7 billion euro surplus, compared with +14.0 bn in April 2013. The March 2014 balance was +16.7 bn, compared with +21.8 bn in March 2013. In April 2014 compared with March 2014, seasonally adjusted exports fell by 0.2% and imports by 0.5%.
These data are released by Eurostat.
The first estimate for the April 2014 extra-EU28 trade balance was a 1.3 bn euro surplus, compared with +8.5 bn in April 2013. In March 2014 the balance was +4.1 bn, compared with +14.7 bn in March 2013. In April 2014 compared with March 2014, seasonally adjusted exports fell by 1.0% and imports by 0.9%.
EU28 detailed results for January to March 2014
The EU28 deficit for energy decreased (-86.8 bn euro in January-March 2014 compared with -95.8 bn in January-March 2013) as did the surplus for machinery and vehicles (+58.1 bn compared with +65.3 bn).
The highest increase in EU28 exports was registered with China (+11% in January-March 2014 compared with January-March 2013) and the highest increases in EU28 imports with South Korea (+13%), Switzerland (+7%) and Turkey (+6%). The most notable decreases were recorded for exports to Russia (-11%) and Switzerland (-9%), and for imports from Russia (-10%) and Brazil (-8%).
The EU28 trade surplus increased with the USA (+23.9 bn euro in January-March 2014 compared with +22.7 bn in January-March 2013), but decreased with Switzerland (+13.9 bn compared with +19.5 bn) and Turkey (+4.7 bn compared with +6.3 bn). The EU28 trade deficit fell with China (-33.0 bn compared with -34.0 bn) and Russia (-23.4 bn compared with -26.0 bn) and remained stable with Norway (-10.6 bn).
Concerning the total trade of Member States, the largest surplus was observed in Germany (+48.6 bn euro in January-March 2014), followed by the Netherlands (+15.9 bn), Ireland (+7.9 bn) and Italy (+6.9 bn). The United Kingdom (-26.3 bn) registered the largest deficit, followed by France (-18.8 bn), Spain (-6.8 bn) and Greece (-5.4 bn).
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