Brussels: Europe and Arabs
The balance of trade in commodities in the European Union reached 40.4 billion euros in the second quarter of 2024, a decrease of 55.3 billion euros in the previous quarter. As such, the trade balance now showed a surplus for four consecutive quarters, after a period of deficit from the fourth quarter of 2021 to the second quarter of 2023, due primarily to the high deficit in the surplus of energy compensation in other products categories. According to the figures issued by the European Statistical Office in Brussels
In the second quarter of 2024, the surpluses registered in machines and vehicles exceeded (56.9 billion euros), chemicals and relevant materials (59.3 billion euros), food and drinks (13.9 billion euros), other manufactured goods (1.8 billion euros) and other goods (3.2 One billion euros) energy deficit (-88.4 billion euros) and raw materials (-6.3 billion euros).
In the second quarter of 2024, the imports of commodities from non -European Union countries increased to the European Union by 3.4% compared to the previous quarter, while exports were almost stable, as they increased by 0.7%. Imports grew after declining for 6 quarters in a row, while export levels continued to rise for the third quarter in a row.