Eurozone Trade Surplus Declines In October
December 17 2024 - 1:01AM
RTTF2
The euro area trade surplus declined in October largely due to
the rebound in imports, data from Eurostat showed on Tuesday.
The trade surplus fell to EUR 6.8 billion in October from EUR
9.4 billion a year ago. This was also below September's level of
EUR 11.6 billion.
The fall in surplus reflects a reduction in the surplus for
chemicals and related products and machineries and vehicles and an
increase in the deficit for energy.
Exports posted an annual growth of 2.1 percent after a 0.1
percent gain in the previous month. Meanwhile, imports rebounded
3.2 percent, reversing a fall of 0.7 percent in September. On a
seasonally adjusted basis, exports slid 1.6 percent, while imports
grew 1.3 percent. As a result, the trade surplus plunged to EUR 6.1
billion from EUR 12.6 billion in September.
During January to October, the trade surplus was EUR 143.3
billion, up from EUR 22.7 billion in the same period last year.
Exports posted an annual increase of 0.5 percent, while imports
fell 4.6 percent.
Further, the EU balance showed a EUR 3.9 billion surplus in
trade in goods with the rest of the world in October, compared with
EUR 8.4 billion in the previous year.
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