As energy imports return to normalcy after last year’s turmoil, the Eurozone achieved a significant trade surplus in June.
Revised data shows a remarkable shift compared to the 27.1 billion euro deficit in the Eurozone from June of the previous year, and an improvement over the slight surplus in May.
The primary difference lies in import figures, which saw a year-on-year decline of 18% to 229.3 billion euros, while export figures only saw a slight increase to 252.3 billion euros.
The decrease in import figures signifies a normalization of energy import costs for the Eurozone.
Following the Russia-Ukraine conflict last year, the cost of energy imports for the Eurozone had seen a substantial increase.
Data reveals that in the first six months of 2023, energy imports for the Eurozone have decreased by 25% compared to the same period last year.
