BRUSSELS: The first estimates of euro area balance showed a pound 15.0 bn surplus in trade in goods with the rest of the world in April 2024, compared with a deficit of pound 11.1 bn in April 2023, according to figures published by Eurostat, the statistical office of the European Union.

The euro area exports of goods to the rest of the world in April 2024 were pound 247.6 billion, an increase of 14.0% compared with April 2023 (pound 217.2 bn). Imports from the rest of the world stood at pound 232.5 bn, a rise of 1.8% compared with April 2023 (pound 228.3 bn).

In April 2024 compared to March 2024, the euro area surplus decreased from pound 23.7 billion to pound 15.0 billion. The reason was due to an increase in the deficit of the energy sector (from pound -23.7 billion to pound -26.2 billion) and a decrease of surplus for ‘chemicals’ (from pound 23.4.billion to pound 21.2 billion).

In January to April 2024, the euro area recorded a surplus of pound 72.8 bn, compared with pound -20.5 bn in January-April 2023
.

The euro area exports of goods to the rest of the world rose to pound 953.0 bn (an increase of 0.8% compared with January-April 2023), and imports fell to pound 880.2 bn (a decrease of 8.9% compared with January-April 2023). Intra-euro area trade fell to pound 874.9 bn in January-April 2024, down by 5.1% compared with January-April 2023.

The EU balance showed a pound 13.9 bn surplus in trade in goods with the rest of the world in April 2024, compared with a deficit of pound 14.2 bn in April 2023.

The extra-EU exports of goods in April 2024 was pound 222.1 billion, up by 14.9% compared with April 2023 (pound 193.3 bn). Imports from the rest of the world stood at pound 208.1 bn, up by 0.3% compared with April 2023 (pound 207.4 bn).

Source: Emirates News Agency