Euro area international trade in goods surplus €12.5 bn
Euro area
The first estimates of euro area balance showed a €12.5 bn surplus in trade in goods with the rest of the world in September 2024, compared with + €9.8 bn in September 2023.
The euro area exports of goods to the rest of the world in September 2024 was €237.8 billion, an increase of 0.6% compared with September 2023 (€236.4 bn).
Imports from the rest of the world stood at €225.3 bn, a fall of 0.6% compared with September 2023 (€226.6 bn).
In September 2024 the euro area surplus increased significantly compared to August 2024, from €4.1 bn to €12.5 bn. This increase was mainly driven by an increase of surplus for machineries and vehicles (from €+9.7 bn to €+13.8 bn) and a reduced deficit for energy (from €-25.7 bn to €-22.3 bn).
In January to September 2024, the euro area recorded a surplus of €140.8 bn, compared with €13.9 bn in January-September 2023.
The euro area exports of goods to the rest of the world rose to €2 136.7 bn (an increase of 0.4% compared with January-September 2023), while imports fell to €1 995.8 bn (a decrease of 5.6% over the same period.
Intra-euro area trade fell to €1 931.9 bn in January-September 2024, down by 3.4% compared with January-September 2023.
Flows |
Sep 23 |
Sep 24 |
Growth rates |
Jan-Sep 23 |
Jan-Sep 24 |
Growth rates |
|---|---|---|---|---|---|---|
Extra-EA exports |
236.4 |
237.8 |
0.6% |
2 127.4 |
2 136.7 |
0.4% |
Extra-EA imports |
226.6 |
225.3 |
-0.6% |
2 113.6 |
1 995.8 |
-5.6% |
Extra-EA trade balance |
9.8 |
12.5 |
13.9 |
140.8 |
||
Intra-EA trade |
217.7 |
215.5 |
-1.0% |
2 000.0 |
1 931.9 |
-3.4% |
European Union
The EU balance showed a €9.6 bn surplus in trade in goods with the rest of the world in September 2024, compared with +€7.3 bn in September 2023.
The extra-EU exports of goods in September 2024 were €212.6 billion, up by 0.8% compared with September 2023 (€210.9 bn). Imports from the rest of the world stood at €203.1 bn, down by 0.3% compared with September 2023 (€203.7 bn).
When looking at the breakdown of the EU balance by product, the picture is similar to the graph of the euro area. In September 2024, compared to August 2024, the EU balance increased significantly and shifted from a deficit of €-1.9 to a surplus of €+9.6bn.
This increase was mainly driven by a higher surplus in machineries and vehicles (from €+11.3 bn to €+16.4 bn) and a decrease in the deficit for energy (narrowing from €-29.4 bn to €-25.9 bn).
In January to September 2024, extra-EU exports of goods rose to €1 922.1 bn (an increase of 0.9% compared with January-September 2023), while imports fell to €1 803.3 bn (a decrease of 5.7% compared with January-September 2023). As a result, the EU recorded a surplus of €118.7 bn, compared with a deficit of €6.7 bn in January-September 2023.
Intra-EU trade fell to €3 023.5 bn in January-September 2024, a decrease of 2.6% compared with January-September 2023.
Flows |
Sep 23 |
Sep 24 |
Growth rates |
Jan-Sep 23 |
Jan-Sep 24 |
Growth rates |
|---|---|---|---|---|---|---|
Extra-EU exports |
210.9 |
212.6 |
0.8% |
1 905.4 |
1 922.1 |
0.9% |
Extra-EU imports |
203.7 |
203.1 |
-0.3% |
1 912.1 |
1 803.3 |
-5.7% |
Extra-EU trade balance |
7.3 |
9.6 |
-6.7 |
118.7 |
||
Intra-EU trade |
342.1 |
339.4 |
-0.8% |
3 105.5 |
3 023.5 |
-2.6% |
Extra-EU exports |
Extra-EU imports |
Trade balance |
||||
|---|---|---|---|---|---|---|
Sep 24 |
Growth rates |
Sep 24 |
Growth rates |
Sep 24 |
Sep 23 |
|
Total |
212.6 |
0.8% |
203.1 |
-0.3% |
9.6 |
7.3 |
Primary goods: |
32.2 |
-9.3% |
56.0 |
-10.7% |
-23.8 |
-27.2 |
Food & drink |
17.5 |
2.5% |
12.8 |
13.2% |
4.7 |
5.8 |
Raw materials |
5.1 |
-8.8% |
7.8 |
9.3% |
-2.7 |
-1.5 |
Energy |
9.6 |
-25.2% |
35.5 |
-20.0% |
-25.9 |
-31.5 |
Manufactured goods: |
176.9 |
2.4% |
144.9 |
4.0% |
32.0 |
33.4 |
Chemicals & related products |
48.0 |
10.0% |
27.7 |
1.7% |
20.2 |
16.3 |
Machinery & vehicles |
83.6 |
-0.5% |
67.2 |
0.7% |
16.4 |
17.3 |
Other manuf’d goods |
45.3 |
0.4% |
50.0 |
10.1% |
-4.7 |
-0.3 |
Other |
3.6 |
31.8% |
2.1 |
37.4% |
1.4 |
1.2 |
Exports |
Import |
Trade balance |
||||
|---|---|---|---|---|---|---|
Sep 24 |
Growth rates |
Sep 24 |
Growth rates |
Sep 24 |
Sep 23 |
|
United States |
45.7 |
8.9% |
27.2 |
-4.9% |
18.4 |
13.3 |
China |
17.0 |
-4.2% |
47.5 |
12.5% |
-30.4 |
-24.4 |
United Kingdom |
28.5 |
2.0% |
13.1 |
-10.7% |
15.4 |
13.2 |
Switzerland |
16.3 |
5.1% |
11.3 |
-6.4% |
5.0 |
3.4 |
Türkiye |
9.1 |
4.7% |
7.9 |
4.3% |
1.2 |
1.2 |
Norway |
5.2 |
-0.8% |
7.7 |
-4.3% |
-2.6 |
-2.9 |
South Korea |
4.9 |
-2.3% |
6.9 |
6.0% |
-2.0 |
-1.5 |
Japan |
4.9 |
-3.9% |
5.1 |
-12.5% |
-0.2 |
-0.8 |
India |
4.0 |
-0.9% |
5.0 |
-11.6% |
-1.0 |
-1.6 |
Brazil |
3.6 |
11.5% |
3.5 |
-2.1% |
0.1 |
-0.3 |
Annex - Seasonally adjusted data
In September 2024 compared with August 2024, euro area seasonally adjusted exports increased by 0.4%, while imports decreased by 0.8%. The seasonally adjusted balance was €13.6 bn, an increase compared with August (€10.8 bn).
In September 2024 compared with August 2024, EU seasonally adjusted exports decreased by 0.4%, and imports decreased by 1.9%. The seasonally adjusted balance was €11.0 bn, an increase compared with August (€8.1 bn).
In the third quarter of 2024, seasonally adjusted exports in the euro area decreased by 0.8% while imports increased by 0.4%, in comparison with the second quarter of 2024. Seasonally adjusted exports in the EU decreased by 1.0%, while imports increased by 0.5% in comparison with the second quarter of 2024.
Aug 24 |
Sep 24 |
Growth rates |
July 24 - Sep 24 |
Growth rates (compared to the previous three months) |
|
|---|---|---|---|---|---|
Euro area |
|
|
|
|
|
Extra-EA exports |
236.8 |
237.6 |
0.4% |
711.7 |
-0.8% |
Extra-EA imports |
226.0 |
224.1 |
-0.8% |
674.4 |
0.4% |
Balance |
10.8 |
13.6 |
|
37.3 |
|
Intra-EA |
214.9 |
212.9 |
-0.9% |
643.7 |
0.3% |
EU |
|
|
|
|
|
Extra-EU exports |
214.3 |
213.4 |
-0.4% |
641.7 |
-1.0% |
Extra-EU imports |
206.2 |
202.4 |
-1.9% |
612.8 |
0.5% |
Balance |
8.1 |
11.0 |
|
28.9 |
|
Intra-EU |
336.3 |
334.8 |
-0.4% |
1007.4 |
0.2% |
Notes for users
Revisions and timetable
This News Release is based on information transmitted by Member States to Eurostat before 13 November 2024. Figures are provisional. For more details, see information on data.
Methods and definitions
Statistics on trade in goods are transmitted monthly by the Member States, in accordance with the standard set out in Commission Implementing Regulation (EU) 2020/1197. For each reference month, Member States must compile statistics covering their total extra- and intra-EU trade by using estimates, where necessary. These data are available within 40 days after the end of the reference month, enabling euro area and EU aggregates to be disseminated within around 46 days.
Member States provide Eurostat with raw data, which are adjusted for calendar and seasonal effects by Eurostat. The European aggregates are computed with the indirect approach (by Member States) for total imports and exports, which guarantees additivity between the aggregate and its respective components. The estimation of seasonally adjusted data is based on the Tramo-Seats procedure, which is available in the software JDemetra+.
Data are broken down by broad categories of products as defined by the one-digit codes of the Standard international trade classification (SITC).
Geographical information
The euro area (EA20) includes Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.
The European Union (EU27) includes Belgium, Bulgaria, Czechia, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland and Sweden.
For more information
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E-mail: estat-etfree@ec.europa.eu