Euro area trade surplus falls to 4-month low of $15.1B in May

By Tuba Ongun

ANKARA (AA) – The eurozone trade surplus decreased to a 4-month low of €13.9 billion ($15.1 billion) in May, according to official data released on Tuesday.

The figure improved from a €400 million deficit in May 2023.

Euro area exports of goods to the rest of the world ticked down 0.5% year-on-year to €241.5 billion this May, following significant growth of 13.5% in April.

Imports plunged 6.4% from last year to €227.6 billion in May, shifting from a 1.8% increase in the previous month.

The EU27 posted a trade surplus of €9.7 billion in May, shifting from a €2.6 billion deficit a year ago.

Eurozone exports to its top market, the US, surged 6.8% year-on-year to $44.4 billion in May.

Exports to the UK amounted to €28.4 billion, to China €18.1 billion, to Switzerland €16.3 billion, and to Türkiye €10 billion.

On the other hand, imports to the single currency zone from China, its main source, totaled €41.9 billion, a decline of 8.7% year-on-year.

The US, the UK, Switzerland, Norway, and Türkiye followed with €29.9 billion, €13.7 billion, €11.3 billion, €8.2 billion, and €8.2 billion, respectively.