Eurozone records USD23.6B international trade surplus in July
Date
9/17/2024 7:51:03 AM
(MENAFN) In July, the euro area recorded an international trade surplus of €21.2 billion (USD23.6 billion), according to Eurostat. This surplus reflects a significant increase in exports, which totaled €252 billion for the month, marking a 10.2 percent rise compared to the previous year. In contrast, imports into the euro area reached €230.8 billion, up by 4 percent year-on-year. The data underscores a robust external trade performance amid global economic conditions.
For the period from January to July 2024, the euro area achieved a notable trade surplus of €127.7 billion, a substantial increase from the €3.7 billion surplus recorded in the same period of the previous year. During these seven months, exports amounted to €1.6 trillion, while imports totaled €1.5 trillion. This improvement in the trade balance highlights the euro area's strengthened export performance and controlled import growth.
In comparison, the European Union as a whole reported a trade surplus of €19.1 billion in July and €114.3 billion for the first seven months of 2024. The EU’s exports for July were €230.2 billion, representing an 11.6 percent increase from the previous year, while imports stood at €211.1 billion, reflecting a 4.8 percent rise. This positive trade balance is indicative of the EU's growing export competitiveness and effective management of import levels.
From January to July 2024, the EU's extra trade with non-member countries showed exports worth €1.51 trillion and imports totaling €1.39 trillion. This data illustrates a strong external trade performance by the EU, with significant trade surpluses reflecting the ongoing demand for its goods and controlled import expenditures.
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