11:07 am, Friday, 7 February 2025

EU international trade in goods surplus €22.1 billion in February

  • Bizbd Report
  • Update Time : 09:15:45 am, Wednesday, 17 April 2024
  • 120

The European Union balance showed a €22.1 billion surplus in trade in goods with the rest of the world in February 2024, compared with +€2.0 billion in February 2023, according to first estimates from Eurostat, the statistical office of the EU.

The EU exports of goods in February 2024 were €210.6 billion, up by 0.7 per cnt compared with February 2023 (€209.0 billion).

The EU Imports of goods stood at €188.5 billion, down by 9.0 per cent compared with February 2023 (€207.0 billion).

When looking at the breakdown of the EU balance by product, the picture is similar to the graph of the euro area. In February 2024, the surplus recorded in the ‘machinery and vehicles’ sector nearly doubled compared with January 2024 and the deficit recorded for ‘energy’ products continued to decrease. As a result, the overall surplus increased.

In January to February 2024, the EU recorded a surplus of €28.4 billion, compared with a deficit of €36.6 billion in January-February 2023. The EU exports of goods rose to €409.8 billion (an increase of 0.5 per cent compared with January-February 2023), and imports fell to €381.4 billion (a decrease of 14.2 per cent compared with January-February 2023).

Intra-EU trade fell to €674.3 billion in January-February 2024, -4.4 per cent compared with January-February 2023.

Euro area

The first estimates of euro area balance showed a €23.6 billion surplus in trade in goods with the rest of the world in February 2024, compared with +€3.6 billion in February 2023.

The euro area exports of goods to the rest of the world in February 2024 were €235.0 billion, a slight increase of 0.3 per cent compared with February 2023 (€234.4 billion).

Imports from the rest of the world stood at €211.4 billion, a fall of 8.4 per cent compared with February 2023 (€230.8 billion).

In February 2024, the surplus recorded in the ‘machinery and vehicles’ sector nearly doubled compared with January 2024 and the deficit recorded for ‘energy’ products continued to decrease. As a result, the overall surplus increased.

In the first two months of 2024, the euro area recorded a surplus of €35.2 billion, compared with -€28.4 billion in January-February 2023.

The euro area exports of goods to the rest of the world rose to €460.7 billion (an increase of 0.6 per cent compared with January-February 2023), and imports fell to €425.5 billion (a decrease of 12.5 per cent compared with January-February 2023).

Intra-euro area trade fell to €428.9 billion in January-February 2024, down by 6.2 per cent compared with January-February 2023.

EU international trade in goods surplus €22.1 billion in February

Update Time : 09:15:45 am, Wednesday, 17 April 2024

The European Union balance showed a €22.1 billion surplus in trade in goods with the rest of the world in February 2024, compared with +€2.0 billion in February 2023, according to first estimates from Eurostat, the statistical office of the EU.

The EU exports of goods in February 2024 were €210.6 billion, up by 0.7 per cnt compared with February 2023 (€209.0 billion).

The EU Imports of goods stood at €188.5 billion, down by 9.0 per cent compared with February 2023 (€207.0 billion).

When looking at the breakdown of the EU balance by product, the picture is similar to the graph of the euro area. In February 2024, the surplus recorded in the ‘machinery and vehicles’ sector nearly doubled compared with January 2024 and the deficit recorded for ‘energy’ products continued to decrease. As a result, the overall surplus increased.

In January to February 2024, the EU recorded a surplus of €28.4 billion, compared with a deficit of €36.6 billion in January-February 2023. The EU exports of goods rose to €409.8 billion (an increase of 0.5 per cent compared with January-February 2023), and imports fell to €381.4 billion (a decrease of 14.2 per cent compared with January-February 2023).

Intra-EU trade fell to €674.3 billion in January-February 2024, -4.4 per cent compared with January-February 2023.

Euro area

The first estimates of euro area balance showed a €23.6 billion surplus in trade in goods with the rest of the world in February 2024, compared with +€3.6 billion in February 2023.

The euro area exports of goods to the rest of the world in February 2024 were €235.0 billion, a slight increase of 0.3 per cent compared with February 2023 (€234.4 billion).

Imports from the rest of the world stood at €211.4 billion, a fall of 8.4 per cent compared with February 2023 (€230.8 billion).

In February 2024, the surplus recorded in the ‘machinery and vehicles’ sector nearly doubled compared with January 2024 and the deficit recorded for ‘energy’ products continued to decrease. As a result, the overall surplus increased.

In the first two months of 2024, the euro area recorded a surplus of €35.2 billion, compared with -€28.4 billion in January-February 2023.

The euro area exports of goods to the rest of the world rose to €460.7 billion (an increase of 0.6 per cent compared with January-February 2023), and imports fell to €425.5 billion (a decrease of 12.5 per cent compared with January-February 2023).

Intra-euro area trade fell to €428.9 billion in January-February 2024, down by 6.2 per cent compared with January-February 2023.