Euro area global trade in goods surplus €21.2 bn, EU surplus €19.1 bn

Exports of goods to the rest of the world from the euro area in July were worth €252.0 billion—an increase of 10.2 per cent year on year (YoY). Imports from the rest of the world stood at €230.8 billion during the month—a YoY rise of 4 per cent.

In July this year compared to June, the euro area surplus decreased slightly from €21.7 billion to €21.2 billion, a Eurostat release said.

Between January and July this year, the euro area recorded a surplus of €127.7 billion compared with €3.7 billion in the corresponding period last year. The euro area exports of goods to the rest of the world during the period rose to €1 683.6 billion—an increase of 0.8 per cent YoY, while imports fell to €1 555.8 billion—a decrease of 6.6 per cent YoY.

Intra-euro area trade fell to €1 528.7 billion in the seven-month period—down by 4.3 per cent YoY.

The European Union (EU) goods trade balance showed a €19.1-billion surplus with the rest of the world in July compared with a €4.9-billion surplus in July last year.

Extra-EU exports of goods in July were worth €230.2 billion—up by 11.6 per cent YoY. Imports from the rest of the world stood to the EU were worth €211.1 billion—up by 4.8 per cent YoY.

In July this year compared to June, the EU surplus decreased from €20.9 billion to €19.1 billion.

In January-July 2024, extra-EU exports of goods rose to €1 513.9 billion—an increase of 1.4 per cent YoY, and imports fell to €1 399.6 billion—a decrease of 7 per cent YoY. As a result, the EU recorded a surplus of €114.3 billion during the period, compared with a deficit of €11.6 billion in the corresponding period last year.

Intra-EU trade fell to €2 384.1 billion in January-July 2024—a drop of 3.4 per cent YoY.

ALCHEMPro News Desk (DS)