International trade balance of Eurozone shows surplus of USD25B in February

(MENAFN) Eurostat reported on Tuesday that the Eurozone's international trade balance showed a surplus of €23.6 billion (USD25 billion) in February, marking an 18 percent increase compared to the previous year.

According to the statistical authority of the 27-member bloc, Eurozone goods exports reached €235 billion in February, registering a modest 0.3 percent increase, while imports totaled €211.4 billion, reflecting a notable decline of 8.4 percent.

The United States emerged as the primary destination for Eurozone exports in February, amounting to €42.3 billion, while China remained the leading import partner with €37.5 billion.

Turkey also ranked among the top five trading partners of the Eurozone, reporting exports worth €7.8 billion and imports of €9.9 billion.

For the first two months of 2024, the Eurozone recorded a surplus of €35.2 billion, a significant improvement compared to the deficit of minus €28.4 billion recorded in the same period of 2023.

During January and February, Eurozone exports to non-member countries reached €460.7 billion, showing a slight increase of 0.6 percent, while imports decreased to €425.5 billion, marking a substantial drop of 12.5 percent.

Intra-Eurozone trade experienced a decline to €428.9 billion in the first two months of 2024, down 6.2 percent compared to the same period in 2023.

It's important to note that the Eurozone, or EA19, comprises member states that utilize the euro as their official currency, while the EU27 encompasses all member nations of the European Union.



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