The European Union recorded a trade surplus of €27.2 billion in the final quarter of 2024, continuing a six-quarter streak of positive trade balances, according to Eurostat, the statistical office of the EU. This sustained surplus follows a period of deficits caused by high energy costs from late 2021 to mid-2023. The surplus was largely driven by key industrial and agricultural sectors. The trade balance for chemicals and related products posted a surplus of €60.1 billion, while machinery and vehicles recorded a €48.0 billion surplus.
The food and drink sector contributed €10.7 billion, and other goods added €5.5 billion. However, deficits were reported in energy (-€82.8 billion), raw materials (-€7.2 billion), and other manufactured goods (-€7.1 billion). Both exports and imports grew by 0.4% in the fourth quarter of 2024. This marked the third consecutive quarterly rise in imports, while exports rebounded after a slight decline in the third quarter.
The data highlights the EU’s improved trade position following a challenging period marked by high energy costs and supply chain disruptions. The positive balance reflects strong performance in high-value sectors, helping offset ongoing deficits in and raw materials. The trend also suggests resilience in European trade, with a steady demand for EU-manufactured goods in global markets. The machinery, vehicles, and chemicals industries remain the primary drivers of export growth, benefiting from stable demand and competitive production capabilities.
While the EU continues to face structural challenges, including energy dependence and raw material deficits, the latest figures indicate a return to stability. The sustained surplus underscores the bloc’s capacity to navigate economic uncertainties while maintaining its global trade standing. Eurostat’s report reinforces expectations for continued trade surpluses, provided that key export sectors maintain their momentum and external demand remains steady. – By EuroWire News Desk.
