Surplus in EU trade in goods for 6 quarters in a row: Eurostat

ANI February 22, 2025 175 views

The European Union has maintained a robust trade surplus for six consecutive quarters, showcasing economic resilience. Eurostat's latest report highlights strong performance in sectors like chemicals, machinery, and food exports. Despite ongoing challenges in energy trade, the EU's overall trade balance remains positive. This trend signals potential economic recovery and stability for the European market.

"The EU's trade resilience continues to demonstrate economic strength" - Eurostat Economic Analysis Team
Brussels, February 22: In the final quarter of 2024, the EU exported more goods to non-EU countries than it imported, resulting in a trade surplus of Euro 27.2 billion, according to figures published by Eurostat, the statistical office of the European Union. This marked the sixth consecutive quarter of a positive trade balance, following a period of deficits driven by soaring energy costs from late 2021 to mid-2023.

Key Points

1

EU exports exceed imports for sixth quarter in a row

2

Chemicals and machinery drive positive trade balance

3

Energy sector remains challenging trade segment

4

Exports and imports both show 0.4% growth

The positive trade balance in the fourth quarter of 2024 was driven by surpluses in trade in chemicals and related products (+Euro 60.1 billion), machinery and vehicles (+Euro 48.0 billion), food and drink (+Euro 10.7 billion) and other goods (+Euro 5.5 billion).

In contrast, trade deficits were reported for energy (-Euro 82.8 billion), raw materials (-Euro 7.2 billion) and other manufactured goods (-Euro 7.1 billion).

In the fourth quarter of 2024, both exports and imports of goods increased by 0.4 per cent. The level of imports increased for the third quarter in a row, while the growth in exports came after a decrease in the third quarter of 2024. (ANI/WAM)

Tags:
EU Trade Eurostat European Economy Export-Import Trade Surplus 2024 Economic Trends
You May Like!