Eurozone trade surplus narrows in August

The first estimates of the Eurozone trade balance show a surplus of €4.6 billion in goods trade with the rest of the world in August, compared to €4.8 billion in August 2023.

Eurozone trade surplus narrows in August

Eurozone goods exports to the rest of the world in August amounted to €216.7 billion, down 2.4% from August 2023, when they stood at €222.0 billion.

Imports from the rest of the world stood at €212.1 billion, down 2.3% from August 2023, when they stood at €217.2 billion.

The Eurozone surplus in August decreased significantly from July, falling from €19.7 billion to €4.6 billion.

This decline was mainly driven by a reduction in the surplus for machinery and vehicles - to €10 billion from €17.7 billion - and a shift in the balance for other manufactured goods - to €3.9 billion from €100 million.

The euro area recorded a surplus of €129.6 billion from January to August 2024, compared to €6.2 billion from January to August 2023.

Euro area exports of goods to the rest of the world increased to €1,900.6 billion, up 0.3% compared to January-August 2023, while imports decreased to €1,771.0 billion, down 6.2% compared to January-August 2023.

Intra-euro area trade decreased to €1,714.6 billion in January-August 2024, down 4.2% compared to January-August 2023.