The Eurozone recorded a trade surplus of €16.4 billion in November 2024, down from €18.2 billion a year earlier but exceeding market expectations of €8.5 billion.
Eurozone trade surplus at €16.4B in November
Exports declined by 1.6% year-on-year to €248.3 billion, while imports fell by 1% to €231.9 billion. For the broader European Union, the trade surplus narrowed to €14.3 billion from €17.2 billion in the same period last year. EU exports dropped 1.2% to €223.1 billion, with lower shipments of energy products (-16.5%) and machinery & vehicles (-6.7%) outweighing a 12.9% increase in chemicals and related products.
EU imports rise 0.1%, boosted by food and raw materials
Imports, however, inched up by 0.1% to €208.8 billion, driven by higher purchases of food and drinks (+18.7%), raw materials (+3.9%), and other manufactured goods (+7%), partially offset by a sharp 13% drop in energy imports.
