EU: Fourth Consecutive Quarterly Surplus in Merchandise Trade

The EU’s balance of trade in goods in the second quarter of 2024 is 40.4 billion euros. This figure is down from the figure for the period from January to March 2024, which stood at €55.3 billion. This is the fourth consecutive quarter in which the EU trade balance has remained positive after a period of deficit that lasted from the fourth quarter of 2021 to the second quarter of 2023. This dynamic was mainly due to severe energy shortages.

Between April and June 2024, the 27 countries of the Union recorded surpluses of machinery and vehicles (€56.9 billion), chemical products and related materials (€59.3 billion), food and beverages (€13.9 billion), other manufactured goods (€1.8 billion), and miscellaneous goods (€3.2 billion). At the same time, there are deficits in energy (-€88.4 billion) and raw materials (-€6.3 billion).