Eurozone records USD7.1B trade balance profit in October
Date
12/18/2024 12:52:31 AM
(MENAFN) The Euro area recorded a trade profit of €6.8 billion (USD7.1 billion) in the previous couple of months, based on the state statistical bureau on Tuesday.
The number declined from a €9.4 billion excess in October the previous year, the figures revealed.
The Eurozone’s shipments to the rest of the world surged 2.1 percent on an annual basis in October to €254 billion, whereas brought ins rose 3.2 percent to €239.4 billion.
At the same time, the EU27 recorded a trade excess of €3.9 billion in October, compared to €8.4 billion in October of the previous year.
The US was the greatest receiver of EU shipments with €47.9 billion, up 4.7 percent year-on-year, followed by the UK with a 5.4 percent surge to €31.6 billion, China with a 7.4 percent decline to €17.2 billion, Switzerland with a 3.1 percent jump to €17.1 billion, and Turkey with €9.9 billion, a decline of 1.4 percent.
At the same time, China was the biggest trader to the EU in October, contributing to €50.3 billion, with a surge of 7.2 percent annually.
The US was the second-biggest trader to the EU with €27.6 billion, a decline of 4.5 percent, followed by Switzerland with €14.9 billion and a 30.1 percent rise, the UK with €14.6 and a 0.9 percent jump, and Turkey with €9.3 billion, a surge of 9.2 percent.
During the first ten months, the euro zone recorded a profit of €143.3 billion in the current year versus €22.7 billion through the exact mentioned time in the previous year, whereas its shipments surged 0.5 percent to €2.4 trillion and its shipments declined 4.6 percent to €2.2 trillion.
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