EU Economy: Euro area international trade in goods surplus € 2 5 . 4 bn ($31.52 bn). December 2017

The first estimate for euro area (A19) exports of goods to the rest of the world in December 2017 was €180.7 billion, an increase of 1.0% compared with December 2016 (€179.0 bn).

Imports from the rest of the world stood at €155.3 bn, a rise of 2.5% compared with December 2016 (€151.4 bn). As a result, the EURO  area recorded a €25.4 bn surplus in trade in goods with the rest of the world in December 2017, compared with +€27.6 bn in December2016.

EURO area  trade rose to €142.4 bn in December 2017, up by 2.8% compared with December 2016

EU-Digest

US Economy: Budget: Deficits and Debt to Become a Big Worry Under Proposed Plan-by Shawn Tully

In a year or 18 months, it’s probable that America’s top-of-mind issue will no longer be the terrific economy. Using one of Washington, D.C.’s favorite words, the public debate will most likely “pivot” to a threat so gigantic it can no longer be ignored: The looming disaster of deficits and debt.

The latest signal that our fiscal future will emerge as tomorrow’s dominant issue: The new, bi-partisan budget deal forged by the Senate. The accord not only greatly increases discretionary spending over the next two years, it lifts the baseline for future outlays by double-digits, putting deficits and debt on a far steeper trajectory. Most of all, the measure is proof positive that both Democrats and Republicans, and President Trump, are in denial mode. The parties and the White House are all joining hands to make an already grave situation even worse.

The colossal budget measure passed both the Senate and House on the morning of February 9, ending a several-hour federal government shutdown that started at 12:01 AM. While Trump and Congressional leaders congratulate themselves for reaching common ground and keeping the government funded, their bill’s real legacy will be hurrying the issue of unsustainable deficits from the wing to center stage.

It ensures that two milestones, bound to spook the public, arrive a lot sooner than expected. Deficits will probably reach $1 trillion in the current or next fiscal year, almost double what the Congressional Budget Office had projected less than a year ago for 2018.

U.S. debt is now on track to reach $30 trillion over the next decade. That’s over 100% of projected GDP, well into the danger zone where investors demand higher rates to buy government debt. And if rates do rise substantially, the U.S. will rival the likes of Italy as one of the world’s most debt-ravaged nations.

Read more: Budget: Deficits and Debt to Become a Big Worry Under Proposed Plan | Fortune

EU probes German exports - "don't kill the goose that lays the golden eggs"

Anyone who criticizes Europe's champion exporter Germany can expect a robust reaction. EU Economic Commissioner Olli Rehn must have been aware of that, but he still seemed surprised at the media storm, even though, as he pointed out in Brussels on Wednesday (13.11.2013), the Commission's report on economic risks in Europe has not even been formally agreed yet.

Germany has had a trade surplus for years - last year it exported 190 billion euros ($256 billion) worth of goods and services more than it imported. Rehn said that the EU Commission considers that a sign of a structural weakness, an imbalance that needs to be looked at.

That really annoys Heribert Reul, a German Christian Democrat member of the European Parliament. "German export success is based on competitive products," he says. "Putting the brakes on the European locomotive would throw the whole of Europe backwards."

Barroso said several times during his press conference that it wasn't a matter of putting the brakes on Germany or even of punishing it - the Commission was merely looking into economic developments, as it is required to do by EU treaties. And it's not just Germany that was affected: 15 other states were also under investigation.

"This should not be perceived as Europe being in disagreement with Germany's competitiveness," said Barroso, trying to calm the waters. "On the contrary, it's very good for Germany and certainly for Europe that Germany remains such a competitive country with such export-oriented growth." And he added that the crisis countries could learn from Germany: "We would like to have more Germanys in Europe."

Note EU-Digest: Come on Mr. Rehn - please don't kill the goose that lays the golden eggs...

Read nmore: EU probes German exports | Europe | DW.DE | 15.11.2013

Europe's Trade Surplus Is Booming

 Euro-area exports rose for a second month in June, driven by a surge in shipments from Germany, as companies tapped into emerging markets to offset declining demand at home.

Exports from the 17-nation currency bloc advanced a seasonally adjusted 2.4 percent from May, when they gained 0.4 percent, the European Union’s statistics office in Luxembourg said today. Imports stagnated in the period and the trade surplus widened to 10.5 billion euros ($13 billion) from 6.8 billion euros.

Europe’s economy contracted 0.2 percent in the second quarter as tougher austerity measures pushed at least six member states including Italy and Spain into recession. With households and companies across the region cutting spending, exporters such as L’Oreal SA, the world’s largest cosmetics maker, have relied on faster-growing Asian markets to bolster sales.

“The euro-region economy is undergoing a mild recession,” said Alexander Krueger, chief economist at Bankhaus Lampe KG in Dusseldorf. “The global growth dynamic has eased somewhat, but exports will continue to support development to a certain extent in the second half of the year.”

Read more: Europe's Trade Surplus Is Booming - Business Insider