In February, the eurozone witnessed a notable surge in its trade surplus compared to the previous year, largely due to a significant decline in imports, particularly in energy and raw materials, according to data from the European Union’s statistics office Eurostat released on Tuesday.<\/p>\n\n\n\n
Eurostat reported that the unadjusted external trade surplus of the 20 eurozone countries soared to 23.6 billion euros in February, up from 3.6 billion euros a year earlier, as imports experienced an 8.4% year-on-year decrease, while exports saw a modest 0.3% uptick.<\/p>\n\n\n\n
Across the European Union, energy imports recorded an 18.2% year-on-year decline in February, resulting in an energy trade deficit of only 28.2 billion euros, compared to 35.4 billion euros in February 2023.<\/p>\n\n\n\n
Additionally, the deficit in raw materials trade more than halved, dropping to 1.5 billion euros from 3.3 billion euros a year earlier.<\/p>\n\n\n\n
Simultaneously, the trade surplus in machinery and vehicles surged to 24.6 billion euros from 18.1 billion euros twelve months ago.<\/p>\n\n\n\n
The EU’s trade surplus with its largest trading partner, the United States, increased to 15 billion euros in February from 13 billion euros a year earlier, while its surplus with China, the second-largest partner, narrowed to 20.5 billion euros from 22.5 billion euros.<\/p>\n\n\n\n
Adjusting for seasonal fluctuations, the euro zone’s trade surplus stood at 17.9 billion euros.<\/p>\n","protected":false},"excerpt":{"rendered":"
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