Home›Forex›Central Banks›Eurozone goods trade surplus widens in June but first-…

Eurozone goods trade surplus widens in June but first-half balance weakens

June exports rose 14.4% year over year to EUR 272.5B, yet the Eurozone first-half surplus shrank from EUR 82.2B to EUR 9.8B as imports grew faster.

Reported · Written up by our desk · Central Banks

Eurozone goods trade showed a June rebound, with the region’s trade surplus widening to EUR 8.6B from EUR 4.8B a year earlier, as exports increased 14.4% year over year to EUR 272.5B and imports climbed 13.1% year over year to EUR 264.0B, according to Action Forex.

For the broader EU, the headline surplus narrowed to EUR 3.9B from EUR 5.2B, with EU exports up 12.5% and imports rising 13.5%, suggesting the June improvement was not uniform across trading balances within the bloc.

However, first-half data point to a much weaker picture, with Eurozone exports slipping 0.2% year over year in January to June while imports rose 4.9%, reducing the cumulative surplus from EUR 82.2B to EUR 9.8B.

For the EU, extra-regional trade worsened further, as exports fell 2.1% while imports increased 4.7%, swinging the balance from a EUR 74.1B surplus to a EUR 14.9B deficit, while the deficit with China widened from EUR 31.0B to EUR 35.1B in June.

More like this

Sources