Euro area
The first estimates of euro area balance showed a €22.3 bn surplus in trade in goods with the rest of the world in June 2024, compared with €18.0 bn in June 2023.
The euro area exports of goods to the rest of the world in June 2024 were €236.7 billion, a decrease of 6.3% compared with June 2023 (€252.5 bn). Imports from the rest of the world stood at €214.3 bn, a fall of 8.6% compared with June 2023 (€234.5 bn).
In June 2024 compared to May 2024, the euro area surplus increased from €14.0 billion to €22.3 billion (€+8.3 bn with respect to May 2024). This was due to an increase of the surplus for machineries and vehicles (€+2.9 bn), chemicals (€+1.2 bn) and other manufactured goods (+€1.2 bn) combined with a decrease of the deficit for energy (€-2.6 bn).
In January to June 2024, the euro area recorded a surplus of €107.5 bn, compared with a deficit of €3.0 bn in January-June 2023. The euro area exports of goods to the rest of the world fell to €1 430.1 bn (a decrease of 0.8% compared with January-June 2023), and imports fell to €1 322.6 bn (a decrease of 8.4% compared with January-June 2023).
Intra-euro area trade fell to €1 303.8 bn in January-June 2024, down by 5.9% compared with January-June 2023.
|
Euro area trade – non seasonally adjusted data (bn €) |
||||||
|---|---|---|---|---|---|---|
|
Flows |
Jun 23 |
Jun 24 |
Growth rates |
Jan-Jun 23 |
Jan-Jun 24 |
Growth rates |
|
252.5 |
236.7 |
-6.3% |
1 441.0 |
1 430.1 |
-0.8% |
|
|
234.5 |
214.3 |
-8.6% |
1 443.9 |
1 322.6 |
-8.4% |
|
|
18.0 |
22.3 |
-3.0 |
107.5 |
|||
|
234.5 |
214.5 |
-8.5% |
1 384.9 |
1 303.8 |
-5.9% |
|
European Union
The EU balance showed a €20.9 bn surplus in trade in goods with the rest of the world in June 2024, compared with +€18.6 bn in June 2023.
The extra-EU exports of goods in June 2024 were €212.3 billion, down by 6.1% compared with June 2023 (€226.0 bn). Imports from the rest of the world stood at €191.4 bn, down by 7.7% compared with June 2023 (€207.4 bn).
When looking at the breakdown of the EU balance by product, the picture is similar to the graph of the euro area. In June 2024, compared to May 2024, the EU surplus increased from €10.2 billion to €20.9 billion (€+10.7 bn with respect to May 2024). This was due to an increase of the surplus for machineries and vehicles (€+4.1 bn), chemicals (€+1.1 bn) and other manufactured goods (+€1.2 bn) combined with a decrease of the deficit for energy (€-3.1 bn).
In January to June 2024, extra-EU exports of goods fell to €1 281.3 bn (a decrease of 0.5% compared with January-June 2023), and imports fell to €1 185.4 bn (a decrease of 9.1% compared with January-June 2023). As a result, the EU recorded a surplus of €95.9 bn, compared with €17.4 bn in January-June 2023
Intra-EU trade fell to €2 040.7 bn in January-June 2024, -4.9% compared with January-June 2023.
|
EU trade – non seasonally adjusted data (bn €) |
||||||
|---|---|---|---|---|---|---|
|
Flows |
Jun 23 |
Jun 24 |
Growth rates |
Jan-Jun 23 |
Jan-Jun 24 |
Growth rates |
|
226.0 |
212.3 |
-6.1% |
1 287.2 |
1 281.3 |
-0.5% |
|
|
207.4 |
191.4 |
-7.7% |
1 304.6 |
1 185.4 |
-9.1% |
|
|
18.6 |
20.9 |
-17.4 |
95.9 |
|||
|
364.0 |
334.8 |
-8.0% |
2 145.3 |
2 040.7 |
-4.9% |
|
|
Main products – EU Bn €, monthly change compared to previous year |
||||||
|---|---|---|---|---|---|---|
|
Extra-EU exports |
Extra-EU imports |
Trade balance |
||||
|
Jun ’24 |
Growth rates |
Jun ’24 |
Growth rates |
Jun ’24 |
Jun ’23 |
|
|
212.3 |
-6.1% |
191.4 |
-7.7% |
20.9 |
18.6 |
|
|
32.2 |
-4.1% |
56.3 |
-7.2% |
-24.1 |
-27.1 |
|
|
16.6 |
-5.7% |
12.0 |
-1.3% |
4.6 |
5.4 |
|
|
5.5 |
-2.1% |
7.3 |
-6.4% |
-1.8 |
-2.2 |
|
|
10.1 |
-2.5% |
37.0 |
-9.0% |
-26.9 |
-30.3 |
|
|
176.3 |
-6.6% |
133.2 |
-8.1% |
43.1 |
43.7 |
|
|
45.0 |
-5.1% |
25.9 |
-6.5% |
19.1 |
19.7 |
|
|
85.6 |
-6.8% |
63.7 |
-6.5% |
21.9 |
23.7 |
|
|
45.7 |
-7.4% |
43.6 |
-11.2% |
2.2 |
0.3 |
|
|
3.8 |
0.5% |
1.8 |
2.5% |
1.9 |
2.0 |
|
|
Main trading partners – EU Bn €, monthly change compared to previous year |
||||||
|---|---|---|---|---|---|---|
|
Exports |
Import |
Trade balance |
||||
|
Jun ’24 |
Growth rates |
Jun ’24 |
Growth rates |
Jun ’24 |
Jun ’23 |
|
|
44.6 |
1.9% |
25.9 |
-9.0% |
18.7 |
15.3 |
|
|
19.1 |
-3.7% |
39.7 |
-8.1% |
-20.5 |
-23.3 |
|
|
28.0 |
-7.6% |
14.1 |
-3.8% |
14.0 |
15.7 |
|
|
15.4 |
-8.7% |
10.8 |
-14.2% |
4.6 |
4.3 |
|
|
8.3 |
-12.9% |
8.0 |
-3.6% |
0.3 |
1.3 |
|
|
5.1 |
-3.1% |
8.3 |
-1.1% |
-3.1 |
-3.1 |
|
|
5.2 |
-13.1% |
5.0 |
-14.3% |
0.2 |
0.2 |
|
|
4.5 |
-8.9% |
5.4 |
-13.3% |
-1.0 |
-1.4 |
|
|
3.9 |
-8.9% |
5.6 |
2.5% |
-1.7 |
-1.2 |
|
|
3.6 |
-5.9% |
3.5 |
-7.1% |
0.1 |
0.1 |
|
Annex – Seasonally adjusted data
In June 2024 compared with May 2024, euro area seasonally adjusted exports decreased by 0.2%, while imports decreased by 2.4%. The seasonally adjusted balance was €17.5 bn, an increase compared with May (€12.4 bn).
In June 2024 compared with May 2024, EU seasonally adjusted exports decreased by 0.1%, while imports decreased by 3.1%. The seasonally adjusted balance was €15.2 bn, an increase compared with May (€8.9 bn).
In the latest three months of 2024, euro area seasonally adjusted exports increased by 0.2% while imports increased by 2.2%, in comparison with January 2024-March 2024. Similarly, EU seasonally adjusted exports and imports increased by 0.7% and 3.4% in comparison with January 2024-March 2024.
|
EA and EU trade – seasonally adjusted data – (bn €) |
|||||
|---|---|---|---|---|---|
|
May 24 |
Jun 24 |
Growth rates |
Apr 24 – Jun 24 |
Growth rates (compared to the previous three months) |
|
|
|
|
|
|
|
|
|
236.5 |
236.2 |
-0.2% |
716.1 |
0.2% |
|
|
224.1 |
218.7 |
-2.4% |
667.9 |
2.2% |
|
|
12.4 |
17.5 |
|
48.2 |
|
|
|
209.9 |
210.7 |
0.4% |
637.3 |
-0.8% |
|
|
|
|
|
|
|
|
|
213.0 |
212.9 |
-0.1% |
645.6 |
0.7% |
|
|
204.1 |
197.7 |
-3.1% |
605.3 |
3.4% |
|
|
8.9 |
15.2 |
|
40.4 |
|
|
|
329.2 |
333.1 |
1.2% |
1001.5 |
-0.6% |
|
Source Datasets: ext_st_ea_sitc (Euro area), ext_st_eu27_2020sitc (EU)
