The euro area posted a trade surplus of €14.2 billion in July 2026, the highest in nine months and up from €10.7 billion in July 2025. It was also the largest monthly surplus since October 2025. Exports of goods jumped 9% to €276 billion, their highest level in more than 16 months, while imports increased at a slower pace of 7.9% to €261.8 billion.
The year-on-year improvement of €3.5 billion was driven mainly by a wider surplus in chemicals and related products, along with additional surpluses in other manufactured goods and in food and drink. These gains more than offset a smaller surplus in machinery and vehicles. At the same time, the energy deficit narrowed to €26.1 billion from €28 billion.
Exports rose to key trading partners, including the United States (up 10.7%), the United Kingdom (up 3.1%) and Switzerland (up 14.2%). Imports also increased broadly, particularly from the United States (up 12.6%) and the United Kingdom (up 16.7%), while imports from China declined sharply, by 32.3%.