Euro area records €22.3b trade surplus in June ’24

The euro area reported a €22.3 billion trade surplus in June 2024, up from €18.0 billion a year earlier, according to data released by Eurostat.

This improvement was driven by an 8.6 per cent drop in imports to €214.3 billion, while exports fell 6.3 per cent to €236.7 billion.

Compared to May 2024, the surplus increased by €8.3 billion, boosted by gains in machinery, vehicles, and a reduced energy deficit.

For the first half of 2024, the euro area recorded a €107.5 billion surplus, reversing a €3.0 billion deficit from the same period in 2023.

Similarly, the European Union (EU) posted a €20.9 billion trade surplus in June 2024, up from €18.6 billion in June 2023, despite declines in both exports and imports. Seasonally adjusted data showed a rise in the euro area and EU trade balances for June compared to May 2024.

Attribution: Eurostat

Subediting: M. S. Salama