Surplus in EU trade in goods for 6 quarters in a row: Eurostat

Brussels [Belgium], February 22 (ANI/WAM): In the final quarter of 2024, the EU exported more goods to non-EU countries than it imported, resulting in a trade surplus of Euro 27.2 billion, according to figures published by Eurostat, the statistical office of the European Union. This marked the sixth consecutive quarter of a positive trade balance, following a period of deficits driven by soaring energy costs from late 2021 to mid-2023.

The positive trade balance in the fourth quarter of 2024 was driven by surpluses in trade in chemicals and related products ( Euro 60.1 billion), machinery and vehicles ( Euro 48.0 billion), food and drink ( Euro 10.7 billion) and other goods ( Euro 5.5 billion). In contrast, trade deficits were reported for energy (-Euro 82.8 billion), raw materials (-Euro 7.2 billion) and other manufactured goods (-Euro 7.1 billion).

In the fourth quarter of 2024, both exports and imports of goods increased by 0.4 per cent. The level of imports increased for the third quarter in a row, while the growth in exports came after a decrease in the third quarter of 2024. (ANI/WAM)

(The story has come from a syndicated feed and has not been edited by the Tribune Staff.)