Data from the Eurostat showed that in June, the trade surplus increased to 22.3 billion euros (the highest value since March) from 14.0 billion euros in May (revised from 13.9 billion euros). This was due to an increase of the surplus for machineries and vehicles (+2.9 billion euros), chemicals (+1.2 billion euros) and other manufactured goods (+1.2 billion euros) combined with a decrease of the deficit for energy (-2.6 billion euros). Economists had expected the surplus to fall to 13.3 billion euros. Exports of goods fell by 6.3% per annum, to 236.7 billion euros, while imports of goods decreased by 8.6% per annum, to 214.3 billion euros.
According to the report, from January to June, exports of goods fell by 0.8% per annum, to 1430.1 billion euros, and imports decreased by 8.4% per annum, to 1322.6 billion euros. As a result, the trade surplus amounted to 107.5 billion euros, compared to a deficit of 3.0 billion euros in January to June 2023. Intra-euro area trade fell to 1303.8 billion euros in January-June 2024, down by 5.9% compared with January-June 2023.
The data also showed that in January to June, extra-EU exports of goods fell by 0.5% per annum, to 1281.3 billion euros, and imports fell by 9.1% per annum, to 1185.4 billion euros. As a result, the EU recorded a surplus of 95.9 billion euros, compared with 17.4 billion euros in January-June 2023 Intra-EU trade fell to 2 040.7 billion euros in January-June, -4.9% compared with January-June 2023.