BAKU, Azerbaijan, February 21. The European Union recorded a trade surplus of 27.2 billion euros in the fourth quarter of 2024, as exports to non-EU countries outpaced imports, Trend reports.
According to Eurostat, this marked the sixth consecutive quarter of a positive trade balance, following a period of deficits caused by high energy costs from late 2021 to mid-2023.
The surplus was largely driven by strong performances in key sectors. The EU recorded a trade surplus of €60.1 billion in chemicals and related products, 48 billion euros in machinery and vehicles, 10.7 billion euros in food and drink, and 5.5 billion euros in other goods. However, trade deficits remained in certain categories, including energy (-82.8 billion euros), raw materials (-7.2 billion euros), and other manufactured goods (-7.1 billion euros).
Both exports and imports of goods increased by 0.4% in the final quarter of 2024. While imports rose for the third consecutive quarter, export growth rebounded after a decline in the third quarter of the year.