Eurozone foreign trade surplus jumps to $22.5B in September

- Notable growth in surplus mainly due to sharp rise in chemicals surplus, surging to $33.8B in September from $20.8B in August

ISTANBUL

The eurozone posted a €19.4 billion ($22.5 billion) foreign trade surplus in September, Eurostat reported Friday, a sharp increase from an upwardly revised €1.9 billion ($2.2 billion) surplus in August.

The rise was mainly driven by chemicals, with the sector’s surplus jumping from €17.9 billion ($20.8 billion) in August to €29.1 billion ($33.1 billion) in September. Overall, eurozone exports climbed 7.7% year-on-year to €256.6 billion ($297.2 billion), while imports rose 5.3% to €237.1 billion ($274.5 billion).

The EU27, which includes all member states, recorded a €16.3 billion ($18.9 billion) surplus in September. The US remained the bloc’s largest export destination, receiving €53.1 billion ($61.5 billion) worth of goods, up 15.4% from a year earlier. Exports to China fell 2.5% to €16.7 billion ($19.3 billion), while shipments to the UK increased 2.8% to €29.3 billion ($33.9 billion).

China led as the largest EU importer in September with €49.8 billion ($57.6 billion), up 3.6% year-on-year, followed by the US at €30.9 billion ($35.7 billion), a 12.5% increase.

The eurozone, or EA20, comprises countries using the euro, while the EU27 includes all European Union members.