The value of exports in the region outweighed imports in June 2024, particularly when looking at the trade of chemicals, machinery and vehicles.
ADVERTISEMENTTrade balance estimates for the euro area suggest that the region had a €22.3bn surplus in trade in goods with the rest of the world in June 2024. That’s compared with €18.0bn in June 2023.
While the proportionate value of exports to imports has therefore risen over the year, the value of both exports and imports has dropped.
Exports fell less than imports, recording a 6.3% drop to €236.7bn in June. Imports, meanwhile, fell by 8.6% year-on-year to €214.3bn.
June’s trade balance was notably pushed up by a surplus of products like chemicals, machinery and vehicles.
Energy, on the other hand, represented the highest deficit out of all goods categories, recording a gap of 22.9%.
In the period from January to June, the euro area recorded a surplus of €107.5bn, compared with a deficit of €3.0bn during the same period a year earlier.
A trade surplus can often be a positive indicator for an economy as it means there is demand for its goods on a global market, which can in turn boost employment and growth.
