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In December 2023, the estimation was €16.1 billion, while in November 2024 it was €12.7 billion. The expansion of the surplus on a monthly basis was supported, among other factors, by the local rise in vehicle trade: increasing to €18.8 billion from €15.6 billion in November.
The slow expansion of the surplus was aided by the rise in exports, which had been noted in the stats since September. Similar to China, the EU has been progressively boosting exports to the US, expecting elevated tariffs declared by President Donald Trump.
In December, European exports to the US increased by 5.6% year-on-year, reaching €41.6 billion. Both exports and imports of the EU demonstrated growth: sales to international markets rose by 3.7% year-on-year to reach €209 billion, whereas goods imports grew by 3.9% to €192.7 billion.
By the close of 2024, the EU recorded a foreign trade surplus of €150.1 billion, compared to a significantly lower surplus of €34.4 billion in 2023, which was also influenced by rising energy prices. EU supplies for the year rose by 1.1% to €2.58 trillion, attributed to preparations for the US restrictions. Imports decreased by 3.5% to €2.43 trillion because of sluggish domestic demand.
source: ec.europa.eu
The slow expansion of the surplus was aided by the rise in exports, which had been noted in the stats since September. Similar to China, the EU has been progressively boosting exports to the US, expecting elevated tariffs declared by President Donald Trump.
In December, European exports to the US increased by 5.6% year-on-year, reaching €41.6 billion. Both exports and imports of the EU demonstrated growth: sales to international markets rose by 3.7% year-on-year to reach €209 billion, whereas goods imports grew by 3.9% to €192.7 billion.
By the close of 2024, the EU recorded a foreign trade surplus of €150.1 billion, compared to a significantly lower surplus of €34.4 billion in 2023, which was also influenced by rising energy prices. EU supplies for the year rose by 1.1% to €2.58 trillion, attributed to preparations for the US restrictions. Imports decreased by 3.5% to €2.43 trillion because of sluggish domestic demand.
source: ec.europa.eu
