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EU trade in goods sees surplus in 4 consecutive quarters: Eurostat

28 Aug '24

1 min read

EU trade in goods sees surplus in 4 consecutive quarters: Eurostat

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The EU balance for trade in goods was $45 billion in Q2 2024, down from $61.72 billion in the previous.
The balance showed a surplus for four consecutive quarters, following deficits from Q4 2021 to Q2 2023.
In Q2 2024, goods imports from non-EU nations to the EU increased by 3.4 per cent compared with the previous quarter, while exports were almost steady.

The European Union (EU) balance for trade in goods was €40.4 billion ($45 billion) in the second quarter (Q2) this year, down from €55.3 billion ($61.72 billion) in the previous, according to Eurostat.

The trade balance showed a surplus for four consecutive quarters, following a period of deficits from Q4 2021 to Q2 2023, primarily due to a high deficit for energy offsetting surpluses in other product categories.

In Q2 2024, imports of goods from non-EU countries to the EU increased by 3.4 per cent compared with the previous quarter, while exports were almost steady, rising by 0.7 per cent quarter on quarter.

Imports grew after having declined for six consecutive quarters, while export levels continued to go up for the third quarter in a row, an Eurostat release said.

Fibre2Fashion News Desk (DS)

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