The Eurozone posted a solid EUR 19.4B trade surplus in September, supported by broad rise in goods exports. Outbound shipments increased 7.7% yoy to EUR 256.6B, outpacing the 5.3% yoy rise in imports.
The broader EU trade balance also swung sharply back into surplus, moving from a EUR -4.5B deficit in August to a EUR 16.3B surplus in September. The turnaround was driven primarily by a strong rebound in the chemicals sector, where the surplus jumped from EUR 15.4B to EUR 26.9B.
On a partner basis, EU shipments to the US were a major driver, rising 15.4% yoy to EUR 53.1B. Imports from the U.S. grew a solid 12.5%, leaving a wider EUR 22.2B surplus. Trade with Switzerland was also strong: exports increased 13.4% and imports 10.6%, taking the bilateral surplus to EUR 6.7B. In contrast, exports to China fell -2.5% yoy, while imports rose 3.6%, pushing the deficit with China deeper to EUR -33.1B. Trade flows with the UK were mixed, as exports rose 2.8% yoy, while imports dipped -0.3%, widening the surplus to EUR 16.1B.
