Eurozone trade surplus unexpectedly jumps

18th Nov 2024 11:45

(Sharecast News) - The eurozone trade surplus more than trebled in September, according to figures from Eurostat on Monday.

The trade balance for the single-currency region increased to €12.5bn, compared with €4.1bn in August and 28% higher than the €9.8bn recorded in September 2023.

The consensus forecast was for a reading of €7.9bn.

Eurostat said eurozone exports were 0.6% higher than last September at €237.8bn, while imports declined by 0.6% to €225.3bn.

Meanwhile, the significant jump month-on-month was mainly driven by an increase of surplus for machineries and vehicles (from €9.7bn to €13.8bn) and a reduced deficit for energy (from -€25.7bn to -€22.3bn).