The euro area posted a trade surplus of €16.2 billion in May, up from €11.1 billion in April and ahead of expectations of a surplus of €13.0 billion.

• Extra-EA exports dropped -0.5% MoM but were up 0.9% YoY to €242.6 billion, while imports fell -1.0% MoM and -0.6% YoY to €226.5 billion.
• Intra-EA trade dropped -0.8% MoM and was up 1.4% YoY to €219.1 billion.
• The chemicals trade surplus increased from €22.0 billion to €24.3 billion MoM, and the machinery & vehicles surplus also edged up from €12.1 billion to €12.9 billion MoM.
• The energy deficit narrowed from -€25.5 billion to -€21.4 billion YoY, contributing to the stronger overall balance.
• In Jan–May 2025, the extra-EA trade surplus reached €86.5 billion, up from €81.4 billion a year earlier.
• The trade surplus with the US increased €4.2 billion to €18.4 billion in May as exports to the US were up 4.4% YoY and imports from the US were down -7.4% YoY.