The European Union reported a €14.3 billion trade surplus with the rest of the world in November 2024, compared with a €17.2 billion surplus in the same month the previous year, new data from Eurostat has revealed.
According to the data, extra-EU exports of goods stood at €223.1 billion in November 2024, down by 1.2% compared with November 2023, when it stood at €225.8 billion.
Imports from the rest of the world stood at €208.8 billion, a slight rise on the €208.6 billion recorded in November 2023.
On a month-on-month basis, growth in the EU surplus was driven by increased surpluses in chemicals and related products (from €+19.0 billion to €+22.2 billion) and a shift in the balance for other manufactured goods (from €-3.7 billion to €+0.3 billion).
Euro area trade surplus
Within the euro area specifically, a trade surplus of €16.4 billion was recorded with the rest of the world, a decrease from €18.2 billion in November 2023.
Exports of goods from the euro area amounted to €248.3 billion, reflecting a 1.6% decrease compared to November 2023, while imports totalled €231.9 billion, down 1.0% from the previous year.
Compared to October 2024, an increase in the euro area surplus was largely attributed to a rise in the surplus for chemicals and related products (from €+20.7 billion to €+23.4 billion) and a shift in the balance for other manufactured goods (from €-1.2 billion to €+1.9 billion).
The data is based on information transmitted by member states to Eurostat before 13 January 2025. Figures are provisional. Read more here.
