The European Union (EU) had a total foreign trade surplus of 4.9 billion euros in July.
The European Statistical Office (Eurostat) published the international trade data of the EU and the Euro Zone for July.
According to the data, EU exports decreased by 3.2 percent in July compared to the same period last year, reaching 205.2 billion euros, and imports decreased by 21.5 percent, reaching 200.3 billion euros. The EU’s foreign trade surplus was determined as 4.9 billion euros in July.
In the Eurozone, exports decreased by 2.7 percent in July compared to the same period in 2022, reaching 227.8 billion euros, and imports decreased by 18.2 percent, reaching 221.3 billion euros. Thus, the Eurozone’s trade surplus was recorded as 6.5 billion euros in July.
Most imports are to the USA
In the said period, the countries that imported the most from EU countries were the USA with 41.4 billion euros, the UK with 27.4 billion euros, China with 18.1 billion euros, Switzerland with 15 billion euros and Turkiye with 9.1 billion euros.
The countries that export the most to EU countries are China with 42.3 billion euros, the USA with 27.5 billion euros, the UK with 14.4 billion euros, Switzerland with 10.9 billion euros, Norway with 8.7 billion euros and Norway with 7.5 billion euros. It was Turkiye with 5 billion euros.
The EU had a trade deficit throughout last year, especially due to rising energy costs.