(Correcting the trade figures were released on Wednesday.)

(Alliance News) - The eurozone recorded a wider trade surplus in May, as exports rose slightly and imports fell amid a narrowing energy deficit and stronger performance in chemicals and capital goods, data from Eurostat showed on Wednesday.

The euro area posted a goods trade surplus of EUR16.2 billion in May, widened from EUR11.1 billion in April and EUR12.7 billion a year before. Exports to the rest of the world totalled EUR242.6 billion, up 0.9% year-on-year, while imports declined 0.6% to EUR226.5 billion.

The improved balance was primarily driven by a rebound in the chemicals sector, where the trade surplus increased to EUR24.3 billion from EUR19.5 billion in the same period last year, and a smaller energy deficit, which narrowed to EUR21.4 billion from EUR25.5 billion in May 2024.

In the five months from January to May, the eurozone recorded a cumulative trade surplus of EUR86.5 billion, compared with EUR81.4 billion in the same period of 2024. Exports rose 4.6% to EUR1.25 trillion, and imports increased 4.5% to EUR1.16 trillion.

Intra-euro area trade also grew 1.0% to EUR1.10 trillion in the five-month period.

The euro area ran a goods trade surplus of EUR18.4 billion with the US in May, widened from EUR17.7 billion in April and EUR14.2 billion a year before. The deficit with China narrowed to EUR27.5 billion in May from EUR28.1 billion in April but widened from EUR23.9 billion a year before.

Across the wider EU, the trade surplus stood at EUR13.1 billion in May, up from EUR8.9 billion a year before. Extra-EU exports were flat year-on-year at EUR216.9 billion, while imports fell 2.0% to EUR203.8 billion.

The wider EU also saw a narrowing of its energy products deficit to EUR24.8 billion from EUR30.0 billion a year before, and a jump in the chemicals trade surplus to EUR23.2 billion from EUR18.0 billion. However, surpluses in machinery and vehicles, and other manufactured goods declined.

For January to May, the EU recorded a total surplus of EUR72.0 billion, little changed from EUR72.6 billion in the same period last year. Exports rose 5.2%, and imports increased 5.6%.

Trade data for May showed Germany, Ireland and Malta with the largest month-on-month export increases among eurozone members, while Croatia, Slovakia and Belgium posted declines. Ireland also posted the strongest annual export growth, at 41%.

By Eva Castanedo, Alliance News reporter

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