May 21, 2024
According to preliminary estimates of the euro area balance, the surplus in goods trade with the rest of the world in March 2024 was €24.1 billion, up from +€19.1 billion in March 2023.
March 2024 saw €245.4 billion in goods exported from the euro area to the rest of the world, a 9.2% decline from March 2023 (€270.4 billion). The amount of imports from the rest of the world decreased by 12.0% to €221.3 billion as of March 2023 from €251.4 billion.
The composition of the trade balance by product changed very little in March 2024 compared to February 2024. The surplus for “chemicals,” which increased from €19.3 billion in February to €23.3 billion in March, was the only notable shift. As a result, the total surplus rose.
The euro area saw a surplus of €57.5 billion from January to March 2024, up from €-9.4 billion in the same period in 2023. The euro area’s imports decreased to €647.5 billion (a decrease of 12.3% compared with January-March 2023) and its exports of goods to the rest of the world dropped to €705.0 billion (a decrease of 3.2% compared with January-March 2023). Trade within the euro area decreased by 8.4% from January to March 2023 to €650.8 billion in 2024.
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