Data from the Eurostat showed that in November, the trade surplus rose to 16.4 billion euros from 8.6 billion euros in October (revised from 6.8 billion euros). Economists had expected the surplus to be 8.5 billion euros. This increase was mainly due to an increase in the surplus for chemicals and related products (from +20.7 billion euros to +23.4 billion euros) and a shift in the balance for other manufactured goods (from -1.2 billion euros to +1.9 billion euros). Exports of goods fell by 1.6% per year, to 248.3 billion euros, while imports of goods decreased by 1.0% per year, to 231.9 billion euros.
According to the report, from January to November, exports of goods increased by 0.3% per annum, to 2636.8 billion euros, and imports decreased by 4.3% per annum, to 2474.9 billion euros. As a result, the trade surplus amounted to 161.9 billion euros, compared with 40.9 billion euros in January to November 2023. Intra-euro area trade fell to 2 372.1 billion euros in January-November, down by 3.4% compared with January-November 2023.
The data also showed that in January to November, extra-EU exports of goods rose by 0.8% per annum, to 2375.0 billion euros, and imports fell by 4.2% per annum, to 2239.2 billion euros. As a result, the EU recorded a surplus of 135.8 billion euros, compared with 18.3 billion euros in January-November 2023.. Intra-EU trade fell to 3 722.2 billion euros in January-November, -2.6% compared with January-November 2023.