Euro area international trade in goods surplus €21.2 bn (2024)

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Euro area European Union Annex - Seasonally adjusted data Notes for users Revisions and timetable Methods and definitions Geographical information For more information Get in touch References

Euro indicators 16 September 2024 Next release: 17 October 2024

July 2024

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EU surplus €19.1 bn

Euro area

The first estimates of euro area balance showed a €21.2 bn surplus in trade in goods with the rest of the world in July 2024, compared with €6.7 bn in July 2023.

The euro area exports of goods to the rest of the world in July 2024 were €252.0 bn, an increase of 10.2% compared with July 2023 (€228.6 bn). Imports from the rest of the world stood at €230.8 bn, a rise of 4.0% compared with July 2023 (€221.9 bn).

Euro area international trade in goods surplus €21.2 bn (1)

In July 2024 compared to June 2024, the euro area surplus decreased slightly from €21.7 bn to €21.2 bn. This was due to an increase in the deficit for energy (from €-22.6 bn to €-25.3 bn) and raw materials (from €-2.3 bn to €-2.8 bn) and a decrease in the surplus of other manufactured goods (from €+2.6 bn to €+1.0 bn), which was partially offset by the increase in the surplus of chemicals and related products (from €+20.7 bn to €+25.1 bn).

Euro area international trade in goods surplus €21.2 bn (2)

In January to July 2024, the euro area recorded a surplus of €127.7 bn, compared with €3.7 bn in January-July 2023. The euro area exports of goods to the rest of the world rose to €1 683.6 bn (an increase of 0.8% compared with January-July 2023), and imports fell to €1 555.8 bn (a decrease of 6.6% compared with January-July 2023). Intra-euro area trade fell to €1 528.7 bn in January-July 2024, down by 4.3% compared with January-July 2023.

Euro area trade - non seasonally adjusted data (bn €)

Flows

July 23

July 24

Growth rates

Jan-July 23

Jan-July 24

Growth rates

Extra-EA exports

228.6

252.0

10.2%

1 669.6

1 683.6

0.8%

Extra-EA imports

221.9

230.8

4.0%

1 665.9

1 555.8

-6.6%

Extra-EA trade balance

6.7

21.2

3.7

127.7

Intra-EA trade

211.8

221.0

4.3%

1 596.8

1 528.7

-4.3%

Source dataset: ext_st_ea_sitc

Euro area international trade in goods surplus €21.2 bn (3)

European Union

The EU balance showed a €19.1 bn surplus in trade in goods with the rest of the world in July 2024, compared with €+4.9 bn in July 2023.

The extra-EU exports of goods in July 2024 were €230.2 bn, up by 11.6% compared with July 2023 (€206.4 bn). Imports from the rest of the world stood at €211.1 bn, up by 4.8% compared with July 2023 (€201.5 bn).

Euro area international trade in goods surplus €21.2 bn (4)

When looking at the breakdown of the EU balance by product, the picture is similar to the graph of the euro area. In July 2024, compared to June 2024, the EU surplus decreased from €20.9 bn to €19.1 bn. This was due to an increase of deficit for energy (from €-26.7 bn to €-29.4 bn) and raw materials (from €-1.8 bn to €-2.4 bn), as well as a decrease in the surplus for machineries and vehicles (from €+21.8 bn to €+20.7 bn), and a decline in the balance for other manufactured goods (from a surplus of €1.9 bn in June 2024 to a deficit of €0.5 bn in July 2024). The overall decrease of EU balance was partially offset by the increase in the surplus of chemicals and related products (from €+19.1 bn to €+23.5 bn).