Notizie economiche
16.07.2024

Eurozone's trade surplus unexpectedly declined in May

Data from the Eurostat showed that in May the trade surplus decreased to 13.9 billion euros from 14.2 billion euros in April. This was due to a decrease of surplus for machinery and vehicles (-1.7 billion euros) and chemicals (-1.3 billion euros) partially offset by an increase in other manufactured goods (+2.6 billion euros). Economists had expected the surplus to rise to 18.0 billion euros. Exports of goods fell by 0.5% per annum, to 241.5 billion euros, while imports of goods decreased by 6.4% per annum, to 227.6 billion euros. 

According to the report, from January to May, exports of goods increased by 0.5% per annum, to 1194.5 billion euros, and imports decreased by 8.3% per annum, to 1109.7 billion euros. As a result, the trade surplus amounted to 84.9 billion euros, compared to a deficit of 21.0 billion euros in January to May 2023. Intra-euro area trade fell to 1090.6 billion euros in January-May 2024, down by 5.2% compared with January-May 2023.

The data also showed that in January to May, extra-EU exports of goods rose by 0.7% per annum, to 1068.8 billion euros, and imports fell by 9.3% per annum, to 994.7 billion euros. As a result, the EU recorded a surplus of 74.2 billion euros, compared with a deficit of 36.0 billion euros in January-May 2023. Intra-EU trade fell to 1707.1 billion euros in January-May 2024, -4.2% compared with January-May 2023.

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