Data from the Eurostat showed that in June, the trade surplus decreased to 21.2 billion euros from 21.7 billion euros in June (revised from 22.3 billion euros). This was due to an increase in the deficit for energy (from -22.6 billion euros to -25.3 billion euros) and raw materials (from -2.3 billion euros to -2.8 billion euros) and a decrease in the surplus of other manufactured goods (from +2.6 billion euros to +1.0 billion euros), which was partially offset by the increase in the surplus of chemicals and related products (from +20.7 billion euros to +25.1 billion euros). Economists had expected the surplus to fall to 14.9 billion euros. Exports of goods increased by 10.2% per annum, to 252.0 billion euros, while imports of goods increased by 4.0% per annum, to 230.8 billion euros.
According to the report, from January to July, exports of goods increased by 0.8% per annum, to 1683.6 billion euros, and imports decreased by 6.6% per annum, to 1555.8 billion euros. As a result, the trade surplus amounted to 127.7 billion euros, compared with 3.7 billion euros in January to July 2023. Intra-euro area trade fell to 1,528.7 billion euros in January-July, down by 4.3% compared with January-July 2023.
The data also showed that in January to July, extra-EU exports of goods rose by 1.4% per annum, to 1513.9 billion euros, and imports fell by 7.0% per annum, to 1399.6 billion euros. As a result, the EU recorded a surplus of 114.3 billion euros, compared with a deficit of 11.6 billion euros in January-July 2023. Intra-EU trade fell to 2 384.1 billion euros in January-July, -3.4% compared with January-July 2023.