EU's global trade surplus  increased by nearly 60% in March

Exports from the European Union to the US surged to €71.4bn last month, according to the latest  figures from Eurostat

Eurostat said the EU’s trade surplus was primarily driven by the positive balance of the chemicals and related products group, which experienced a year-over-year rise of €20bn.

The EU’s trade surplus with the rest of the world increased by nearly 60% during March after exports to the US alone surged to €71.4bn, new data from Eurostat shows.

Last month, the EU exported goods valued at €254.8bn — up from €221.2bn in March 2024 — to countries around the world and imported €219.5bn, up from €198.9bn. This resulted in a trade surplus of €35.3bn, compared to €22.3bn last year.

The value of exports to the US alone increased by 59.5% compared to last year and accounted for 28% of all exports. At the same time, imports from the US into the bloc only grew by 9.4% to €30.7bn.

The next biggest export market for the EU during March was Britain, accounting for €30.8bn, followed by Switzerland at €26.3bn.

The largest import market for the EU last month was China, with €48.6bn worth of goods brought in.

Chemicals boost

Eurostat said the EU’s trade surplus was primarily driven by the positive balance of the chemicals and related products group, which experienced a remarkable year-over-year rise of €20bn.

During this period, the energy sector, while maintaining a negative balance, showed a slight improvement of €200m compared to the same month of the previous year. Meanwhile, other manufactured goods, food and drink, and raw materials experienced declines in their balance of €4.4bn, €2.1bn, and €0.7bn, respectively.

During the first three months of the year, the EU recorded a trade surplus of €52.1bn, compared with €50.9bn in January-March 2024.