Eurozone trade surplus grows in July

Baghdad-INA

The eurozone's trade surplus grew in July thanks to machinery, vehicles and chemicals exports, reaching 22.3 billion euros, compared to 14 billion euros in May 2024.

The European Statistical Agency (Eurostat) reported that the jump in the single currency area's trade surplus was due to a rise in the machinery and vehicles trade surplus by 2.9 billion euros, chemicals by 1.2 billion euros, and other manufactured goods by 1.2 billion euros, while the energy trade deficit fell by 2.6 billion euros.

Meanwhile, exports from the 20-nation eurozone fell by 6.3 percent year-on-year in June after falling by 0.9 percent in May 2024, while imports fell by 8.6 percent after falling by 6.9 percent in the same period.

After taking seasonal variables into account, the trade surplus rose in June to 17.5 billion euros compared to 12.4 billion euros in May, while exports declined by 0.2 percent and imports by 2.4 percent during the same period.

Eurostat data also showed that the European Union's trade surplus with the world as a whole rose to 20.9 billion euros in June, compared to 18.6 billion euros in the previous month.