Eurozone runs $7.1B trade balance surplus in October

ISTANBUL

The eurozone’s trade balance ran a €6.8 billion ($7.1 billion) surplus in October, the region’s statistical bureau Eurostat said on Tuesday.

The figure eased from a €9.4 billion surplus in October 2023, the data showed.

The euro area’s exports to the rest of the world climbed 2.1% year-on-year in October to €254 billion, while imports increased 3.2% to €239.4 billion.

Meanwhile, the EU27 registered a trade surplus of €3.9 billion in October, compared to €8.4 billion in October 2023.

The US was the largest recipient of EU exports with €47.9 billion, up 4.7% on an annual basis, followed by the UK with a 5.4% increase to €31.6 billion, China with a 7.4% decrease to €17.2 billion, Switzerland with a 3.1% hike to €17.1 billion, and Türkiye with €9.9 billion, down 1.4%.

Meanwhile, China was the largest importer to the EU in October, accounting for €50.3 billion, with an increase of 7.2% year-on-year.

The US was the second-largest importer to the EU with €27.6 billion, down 4.5%, followed by Switzerland with €14.9 billion and a 30.1% surge, the UK with €14.6 and a 0.9% climb, and Türkiye with €9.3 billion, up 9.2%.

In January-October, the euro area saw a surplus of €143.3 billion in 2024 versus €22.7 billion over the same period last year, while its exports rose 0.5% to €2.4 trillion and its exports fell 4.6% to €2.2 trillion.

The eurozone/euro area, or EA19, represents member states that use the bloc's single currency, the euro, while the EU27 includes all of its member countries.