EU Trade Surplus Plunges 66% on U.S. Tariffs
According to the latest data from Eurostat, the EU’s statistics office, exports reached $277.20 billion, while imports totaled $269 billion.
Quick overview
- Exports to the United States dropped nearly 50% in June, contributing to a significant trade deficit with China.
- The European Union's trade surplus fell by 66.2% to $8.18 billion in June, primarily due to declining exports amid tariff negotiations.
- Year-on-year, EU exports increased only 0.4%, while imports rose by 6.8%, highlighting a shift in trade dynamics.
- The UK emerged as the EU's top surplus market, pushing the U.S. down to second place amid ongoing tariff tensions.
Exports to the United States fell by nearly 50% in June, while the trade deficit with China expanded at almost the same pace.
The European Union recorded a trade surplus of $8.18 billion in June, a steep 66.2% drop compared to the $24.19 billion surplus registered in the same month last year. The main driver was a sharp decline in exports, as negotiations with the United States over tariffs weighed heavily on trade flows.
According to the latest data from Eurostat, the EU’s statistics office, exports reached $277.20 billion, while imports totaled $269.02 billion. Year-on-year, exports rose just 0.4%, compared with a 6.8% increase in imports.
The first-half figures show a similar trend: EU goods exports reached $1.736 trillion, up 3.9%, while imports grew 4.9% to $1.627 trillion. This left a trade surplus of $109.03 billion, down 8.5% from the same period in 2024.
Shifting Partners: U.S. Weakens, China Gap Widens
By trading partner, the United Kingdom consolidated its position as the EU’s top surplus market, generating $19.28 billion, an 18.7% increase. This pushed the United States out of the top spot it had held in previous years, amid ongoing tariff tensions.
The EU’s trade surplus with the U.S. fell 48.1% to $11.22 billion, while Switzerland ranked third with $6.66 billion, up 21.3%.
On the deficit side, China remained the EU’s largest trade gap, with a $34.47 billion deficit, fueled by a 44.6% jump in imports from the country — underscoring Europe’s growing reliance on Chinese products.
India followed with a $2.10 billion deficit, while Norway posted $1.99 billion, rounding out the top deficit contributors.
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