Eurozone trade surplus rises more than expected

(Sharecast News) - The eurozone's trade balance increased more than expected in July as the energy goods deficit increased and machinery surplus jumped - though the region's overall surplus remained well below last year. The single-currency area registered a €12.4bn surplus in trade in goods with the rest of the world in July, higher than the €8.1bn reported for June, Eurostat reported on Monday.

This was comfortably above the consensus forecast of €11.7bn.

The trade surplus in machinery and vehicles increased to €18.5bn in July from €13.7bn in June, while the surplus in chemicals and related products increased to €17.4bn from €15.4bn. Meanwhile, the deficit in energy goods expanded to -€22.4bn from -€20.6bn.

However, the eurozone's overall trade surplus was still down from the €18.5bn surplus reported in July 2024, as imports rose 3.1% year-on-year to €239.1bn while exports rose only 0.4% to €251.5bn.

The deficit with the region's biggest trade partner, China, increased to -€30.7bn from -€27.6bn a year earlier, while the surplus with the US shrank to €13.0bn from €18.0bn.

That was offset by a slightly higher surplus in trade with the UK (rising to €16.7bn from €15.9bn) and Switzerland (€6.1bn from €5.3bn) when compared with last year.

The eurozone recorded its highest-ever trade surplus with the rest of the world in March, coming in at €36.8bn, as exports to the US surged ahead of the launch of trade tariffs the following month.