Eurozone records trade surplus of USD7.1 billion in October

(MENAFN) The Eurozone recorded a trade surplus of €6.8 billion (USD7.1 billion) in October, according to Eurostat. This surplus was smaller than the €9.4 billion surplus observed in October 2023, reflecting a slight easing in trade performance. The region’s exports to the rest of the world increased by 2.1 percent year-on-year, reaching €254 billion, while imports rose by 3.2 percent, totaling €239.4 billion.

Within the European Union, the EU27 registered a trade surplus of €3.9 billion in October, down from €8.4 billion in the same month last year. The US was the largest recipient of EU exports, with €47.9 billion, marking a 4.7 percent annual increase. Other significant export destinations included the UK, which saw a 5.4 percent rise to €31.6 billion, and China, which experienced a 7.4 percent decrease to €17.2 billion.

On the import side, China was the largest supplier to the EU in October, accounting for €50.3 billion, a 7.2 percent year-on-year increase. The US followed as the second-largest importer, with €27.6 billion, though this represented a 4.5 percent decrease from the previous year. Other notable importers included Switzerland, with a 30.1 percent increase to €14.9 billion, the UK at €14.6 billion (up 0.9 percent), and Türkiye, which saw a 9.2 percent rise to €9.3 billion.

These figures illustrate the ongoing dynamics of trade within the Eurozone and its major trading partners, highlighting shifts in both exports and imports that reflect broader global economic trends.

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