The euro zone’s trade surplus with the rest of the world dropped in July from a year earlier, as imports expanded at a faster pace than exports.
- Eurostat stated that the eurozone’s unadjusted trade surplus with the rest of the world dropped to 20.7 billion euros ($24.4 billion) in July from 26.8 billion euros in July 2020.
- Even so, the surplus for the first seven months of 2021 was comfortably higher, at 122.4 billion euros from 112.8 billion euros in Jan-July 2020.
- Adjusted for seasonal changes, the eurozone trade surplus rose to 13.4 billion euros in July from 11.9 billion euros in June as exports increased by 1.0% on the month while imports were only up 0.3%.
- For the EU as a whole, the non-seasonally adjusted data showed a drop in the trade surplus in July. The bloc is a major exporter of oil and other raw materials and a major exporter of chemicals, machinery, and vehicles.
The EU’s trade deficit with China increased, while its surplus with the United States and Britain expanded in the first seven months of 2021. In Britain, which has left the trading bloc, exports jumped by 6.2% and imports dropped by 17.1%.
Euro Stoxx 50 up +0.86%, EUR USD down -0.38%Source: Eurostat.