Link Securities | According to the first estimate of the data, released yesterday by Eurostat, the Eurozone economy generated a trade surplus in goods with the rest of the world of €16.4bn in November, compared to a surplus of €18.2bn generated in the same month in 2023 and up from €8.6bn in October. The FactSet consensus of analysts expected a lower reading of €9.0 billion. Eurozone exports of goods to the rest of the world amounted to €248.3 billion in November, down 1.6% year-on-year. On the other hand, imports from the rest of the world amounted to €231.9 billion in November, a fall of 1.0% compared with November 2023.
In the January-November period (11M2024), the Eurozone recorded a surplus of €161.9 billion, compared to €40.9 billion in the same period of 2023. In 11M2024, exports of goods from the Eurozone to the rest of the world amounted to €2,636.8 billion (up 0.3% year-on-year), while imports fell to €2,474.9 billion (down 4.3% year-on-year). In this period, intra-regional trade in the Eurozone fell to €2,372.1 billion (down 3.4% year-on-year).