Euro area
The first estimates of euro area balance showed a €6.8 bn surplus in trade in goods with the rest of the world in October 2024, compared with + €9.4 bn in October 2023.
The euro area exports of goods to the rest of the world in October 2024 were €254.0 billion, an increase of 2.1% compared with October 2023 (€248.9 bn).
Imports from the rest of the world stood at €247.2 bn, a rise of 3.2% compared with October 2023 (€239.4 bn).
In October 2024 the euro area surplus decreased compared to September 2024, from €11.6 bn to €6.8 bn. This decrease was mainly due to a reduction in the surplus for chemicals and related products (from €+21.7 bn to €+19.2 bn) and machineries and vehicles (from €+13.4 bn to €+11.9 bn) and an increase in the deficit for energy (from €-22.1 bn to €-25.5 bn).
In January to October 2024, the euro area recorded a surplus of €143.3 bn, compared with €22.7 bn in January-October 2023.
The euro area exports of goods to the rest of the world rose to €2 387.1 bn (an increase of 0.5% compared with January-October 2023), and imports fell to €2 243.8 bn (a decrease of 4.6% compared with January-October 2023).
Intra-euro area trade fell to €2 155.1 bn in January-October 2024, down by 3.1% compared with January-October 2023.
|
Euro area trade – non seasonally adjusted data (bn €) |
||||||
|---|---|---|---|---|---|---|
|
Flows |
Oct 23 |
Oct 24 |
Growth rates |
Jan-Oct 23 |
Jan-Oct 24 |
Growth rates |
|
248.9 |
254.0 |
2.1% |
2 375.6 |
2 387.1 |
0.5% |
|
|
239.4 |
247.2 |
3.2% |
2 353.0 |
2 243.8 |
-4.6% |
|
|
9.4 |
6.8 |
22.7 |
143.3 |
|||
|
224.2 |
229.2 |
2.2% |
2 224.5 |
2 155.1 |
-3.1% |
|
European Union
The EU balance showed a €3.9 bn surplus in trade in goods with the rest of the world in October 2024, compared with +€8.4 bn in October 2023.
The extra-EU exports of goods in October 2024 was €227.0 billion, up by 0.9% compared with October 2023 (€224.9 bn).
Imports from the rest of the world stood at €223.1 bn, up by 3.0% compared with October 2023 (€216.5 bn).
When looking at the breakdown of the EU balance by product, the picture is similar to the graph of the euro area. In October 2024, compared to September 2024, the EU surplus decreased from €+8.2bn to a surplus of €+3.9bn.
This decrease was mainly driven by a decreased surplus in chemicals and related products (from €+19.3 bn to €+17.8 bn) and an increase in the deficit for energy (from €-26.0 bn to €-29.1 bn).
In January to October 2024, extra-EU exports of goods rose to €2 149.6 bn (an increase of 0.9% compared with January-October 2023), and imports fell to €2 029.9 bn (a decrease of 4.6% compared with January-October 2023). As a result, the EU recorded a surplus of €119.7 bn, compared with €1.1 bn in January-October 2023. Intra-EU trade fell to €3 376.9 bn in January-October 2024, -2.4% compared with January-October 2023.
|
EU trade – non seasonally adjusted data (bn €) |
||||||
|---|---|---|---|---|---|---|
|
Flows |
Oct 23 |
Oct 24 |
Growth rates |
Jan-Oct 23 |
Jan-Oct 24 |
Growth rates |
|
224.9 |
227.0 |
0.9% |
2 129.7 |
2 149.6 |
0.9% |
|
|
216.5 |
223.1 |
3.0% |
2 128.6 |
2 029.9 |
-4.6% |
|
|
8.4 |
3.9 |
1.1 |
119.7 |
|||
|
353.8 |
362.4 |
2.4% |
3 459.6 |
3 376.9 |
-2.4% |
|
|
Main products – EU Bn €, monthly change compared to previous year |
||||||
|---|---|---|---|---|---|---|
|
Extra-EU exports |
Extra-EU imports |
Trade balance |
||||
|
Oct 24 |
Growth rates |
Oct 24 |
Growth rates |
Oct 24 |
Oct 23 |
|
|
227.0 |
0.9% |
223.1 |
3.0% |
3.9 |
8.4 |
|
|
34.6 |
-6.9% |
62.4 |
-6.1% |
-27.8 |
-29.3 |
|
|
19.3 |
6.5% |
15.1 |
21.2% |
4.2 |
5.6 |
|
|
6.0 |
1.6% |
8.9 |
13.1% |
-2.9 |
-2.0 |
|
|
9.4 |
-29.0% |
38.5 |
-16.7% |
-29.1 |
-33.0 |
|
|
186.9 |
1.3% |
157.7 |
6.4% |
29.2 |
36.3 |
|
|
49.0 |
10.6% |
31.2 |
16.4% |
17.8 |
17.5 |
|
|
87.7 |
-4.7% |
72.1 |
-0.7% |
15.6 |
19.4 |
|
|
50.3 |
4.3% |
54.5 |
11.5% |
-4.2 |
-0.7 |
|
|
5.5 |
68.1% |
3.0 |
64.6% |
2.5 |
1.5 |
|
|
Main trading partners – EU Bn €, monthly change compared to previous year |
||||||
|---|---|---|---|---|---|---|
|
Exports |
Import |
Trade balance |
||||
|
Oct 24 |
Growth rates |
Oct 24 |
Growth rates |
Oct 24 |
Oct 23 |
|
|
47.9 |
4.7% |
27.6 |
-4.5% |
20.3 |
16.8 |
|
|
17.2 |
-7.4% |
50.3 |
7.2% |
-33.1 |
-28.3 |
|
|
31.6 |
5.4% |
14.6 |
0.9% |
17.0 |
15.5 |
|
|
17.1 |
3.1% |
14.9 |
30.1% |
2.2 |
5.1 |
|
|
9.9 |
-1.4% |
9.3 |
9.2% |
0.6 |
1.5 |
|
|
5.7 |
8.0% |
8.3 |
-12.8% |
-2.6 |
-4.3 |
|
|
4.2 |
2.2% |
7.2 |
32.8% |
-3.0 |
-1.4 |
|
|
6.0 |
4.4% |
5.3 |
-17.7% |
0.7 |
-0.7 |
|
|
4.7 |
-1.9% |
6.0 |
-12.6% |
-1.3 |
-2.1 |
|
|
3.6 |
1.4% |
4.4 |
1.0% |
-0.7 |
-0.7 |
|
Annex – Seasonally adjusted data
In October 2024 compared with September 2024, euro area seasonally adjusted exports decreased by 1.6%, while imports increased by 1.3%. The seasonally adjusted balance was €6.1 bn, a fall compared with September (€12.6 bn).
In October 2024 compared with September 2024, EU seasonally adjusted exports decreased by 2.0%, while imports increased by 0.7%. The seasonally adjusted balance was €3.9 bn, a fall compared with September (€9.5 bn).
In the last three months, seasonally adjusted exports in the euro area decreased by 0.5% while imports increased by 1.1%, in comparison with May-July 2024. Seasonally adjusted exports in the EU decreased by 0.8%, while imports increased by 0.8% in comparison with May-July 2024.
|
EA and EU trade – seasonally adjusted data – (bn €) |
|||||
|---|---|---|---|---|---|
|
Sep 24 |
Oct 24 |
Growth rates |
Aug 24 – Oct 24 |
Growth rates (compared to the previous three months) |
|
|
|
|
|
|
|
|
|
236.2 |
232.5 |
-1.6% |
705.5 |
-0.5% |
|
|
223.7 |
226.5 |
1.3% |
677.8 |
1.1% |
|
|
12.6 |
6.1 |
|
27.8 |
|
|
|
214.8 |
213.5 |
-0.6% |
641.4 |
0.5% |
|
|
|
|
|
|
|
|
|
212.4 |
208.2 |
-2.0% |
635.5 |
-0.8% |
|
|
202.9 |
204.3 |
0.7% |
615.2 |
0.8% |
|
|
9.5 |
3.9 |
|
20.3 |
|
|
|
336.1 |
333.5 |
-0.8% |
1003.4 |
0.5% |
|
Notes for users
Revisions and timetable
This News Release is based on information transmitted by Member States to Eurostat before 12 December 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
https%3A%2F%2Fec.europa.eu%2Feurostat%2Fproduct%3Fcode%3D6-17122024-ap
