EU balance for trade in goods hit €40.4 bn in Q2-24
Aug 27, 2024
Brussels [Belgium], August 27: The EU balance for trade in goods was €40.4 billion in the second quarter of 2024, down from €55.3 billion in the previous quarter, according to figures published by Eurostat, the statistical office of the European Union.
As such, the trade balance has now shown a surplus for 4 quarters in a row, following a period of deficits from the fourth quarter of 2021 to the second quarter of 2023, primarily due to a high deficit for energy offsetting surpluses in other product categories.
In the second quarter of 2024, the surpluses recorded in machinery and vehicles (€56.9 billion), chemicals and related materials (€59.3 billion), food and drink (€13.9 billion), other manufactured goods (€1.8 billion) and other goods (€3.2 billion) outweighed the deficits in energy (-€88.4 billion) and raw materials (-€6.3 billion).
In the second quarter of 2024, imports of goods from non-EU countries to the EU increased by 3.4 percent compared with the previous quarter, while exports were almost steady, rising 0.7 percent. Imports grew after having declined for 6 consecutive quarters, while export levels continued to go up for the third quarter in a row.
Source: Emirates News Agency
