In 2024, the trade balance in goods of the European Union closed with a surplus of 147,000 million euros, which represents an increase of 113 billion compared to the previous year (34 billion in 2023).
Since 2014, the EU has maintained a positive trade balance, except in 2022, when rising energy prices generated a deficit. In the rest of the years, the surplus in key sectors such as machinery, vehicles and chemicals managed to offset the negative effects of the energy crisis.
Growth in the chemical and agri-food sector
The greatest growth in the last decade was recorded in the chemicals and related products, whose surplus is doubled, going from 119.1 billion euros in 2014 to 238.1 billion in 2024bility
On the other hand, the balance of food and drinks also grew significantly, going from 33.5 billion to 52.4 billion euros in the same period. However, the sector other manufactured products experienced a setback, going from a surplus of 35.3 billion in 2014 to a deficit of 11.2 billion in 2024bility
Evolution of imports and exports
The data shows that in 2024 the imports fell 3.4%, after a strong reduction in 2023 (-16.1% compared to 2022). In contrast, the Exports increased by 1.1% compared to 2023, partially reversing the -0.5% drop recorded the previous year.
In retrospect, 2021 marked a strong recovery in trade with increases in 23.8% in imports and 12.9% in exports, following the impact of the pandemic in 2020. In 2022, growth was mainly due to rising prices, with an increase in 41.6% in imports and 17.9% in exportsbility
Fountain: EUROSTAT
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