The Eurozone recorded a large increase in its trade surplus with the rest of the world in June from May as exports rose faster than imports on the month.
Source: Trading Economics
EUR USD up +0.36%
The 19-country bloc posted a surplus of €18.1 billion in June, up from a positive trade balance of €7.5 billion in May.
Among major trade partners, exports to China rose by 15.1%, the US 31%, the UK 14.3%, Switzerland 5.9%, and Russia 14.5%.
Imports increased at a faster pace of 28.2% as purchases of raw materials rose 58.8%, chemicals and related products rose by 21.7%, and other manufactured goods rose by 18.6%
The EU exported goods valued at €209.9 billion in June, close to 22% up from May. Its payments for imports were €191.8 billion, close to 17% higher than in May.
The surplus slightly declined from June 2020 when it was €20 billion. Compared to last year, the Eurozone’s imports rose faster than exports.