July 16, 2024

According to preliminary euro area balance estimates, there was a €13.9 billion surplus in trade in goods with the rest of the world in May 2024, up from a deficit of €0.4 billion in May 2023.

Euro area exports to the rest of the world in May 2024 totaled €241.5 billion, a 0.5% decline from May 2023 (€242.7 billion). Imports from the rest of the world totaled €227.6 billion, down 6.4% from May 2023 (€243.2 billion).

In May 2024, the euro area surplus fell marginally from €14.2 billion to €13.9 billion (€-0.3 billion compared to April 2024). This was due to a decline in surplus for machinery and vehicles (€-1.7 billion) and chemicals (€-1.3 billion), which was partly offset by an increase in other manufactured products (+€2.6 billion).

The euro area recorded a surplus of €84.9 billion from January to May 2024, up from €-21.0 billion in January-May 2023. Euro area exports to the rest of the world increased to €1 194.5 billion (up 0.5% from January to May 2023), while imports declined to €1 109.7 billion (down 8.3% from January to May 2023).

Intra-euro area trade declined to €1 090.6 billion in January-May 2024, down 5.2% from January-May 2023.

(Source: Eurostat)

Disclaimer:

Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer(s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view(s) expressed by that research analyst in this research report.

Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.