EU trade balance rebounds to €1 billion surplus as energy prices decline
The European Union's trade balance has made a noteworthy turnaround in the second quarter of 2023, transitioning from six consecutive quarters of deficit to a surplus, primarily attributed to a reduction in energy costs. The latest report released by Eurostat, the statistical office of the European Union, revealed this promising shift in trade dynamics.
Trade data from the second quarter of 2023 indicated a decline of 2.0 percent in exports and 3.5 percent in imports, resulting in a modest trade surplus of €1 billion.