Table of Contents:
A significant increase in the trade surplus
In the month of November 2024, the Eurozone recorded a significant increase in its trade balance surplus, reaching 16.4 billion euros. This result marks an improvement compared to the surplus of 8.6 billion in October and is close to 18.2 billion in November 2023. Analysts had forecast a surplus of 11.8 billion, but actual data exceeded expectations, highlighting the resilience of the European economy
despite global challenges.
Analysis of exports and imports
According to the report published by the European Union Institute of Statistics, Eurostat, Eurozone exports totaled 248.3 billion euros, showing a decrease of 1.6% compared to the same period of the previous year. Imports also declined, reaching 231.9 billion euros, a decrease of 1%. This scenario suggests that, despite the surplus, the Eurozone is facing a contraction in the volume of
trade.
The Eurozone’s economic challenges
Trade within the Eurozone countries fell to 214.8 billion euros, showing a decrease of 7% compared to November 2023. This figure underlines the economic challenges that the area is facing, despite the overall surplus. Geopolitical tensions and global economic uncertainties continue to negatively affect trade, making stronger economic policies necessary to stimulate growth.
Impact on financial markets
In this context, the Hong Kong Stock Exchange closed strongly following Wall Street, with expectations of new liquidity interventions from Beijing. The Chinese mainland stock exchanges have made slower progress, while a possible reduction in the mandatory reserve ratio by the Chinese central bank is expected to stimulate the economy.
The European stock exchanges also showed signs of growth, with the Ftse Mib at +0.8% in Piazza Affari, thanks to securities such as Moncler, which saw an increase of 7.9%.
Future Perspectives
The 9% drop in shipments in the fourth quarter on an annual basis is an improvement compared to -20% in the third quarter, thanks to the conclusion of actions to reduce inventories and the launch of new products. Taiwan Semiconductor Manufacturing Co (Tsmc) provided sales and capital expenditure forecasts above analysts’ expectations, suggesting a recovery in the technology sector. These developments could indicate a broader economic recovery for the Eurozone, although uncertainties remain high
.
