Latest news with #extra-EU
Fibre2Fashion
a day ago
- Business
- Fibre2Fashion
Euro area's trade surplus estimated at $11.48 bn in Apr 2025
Euro area recorded a trade in goods surplus of €9.9 billion (~$11.48 billion) with the rest of the world in April 2025, down from €13.6 billion in April 2024, according to first estimates by Eurostat. Meanwhile in the same period the European Union (EU) recorded a €7.4 billion (~$8.58 billion) surplus in trade in goods with the rest of the world, down from €12.8 billion in April 2024. Exports of goods totalled €243 billion for euro area, marking a 1.4 per cent decline compared to €246.5 billion in the same month last year. Imports from the rest of the world stood at €233.1 billion, a rise of 0.1 per cent compared with April 2024 €232.9 billion. In April 2025, the euro area balance declined significantly compared to March 2025, with the total surplus dropping from €37.3 billion to €9.9 billion. This decrease was mainly driven by a substantial reduction in the surplus of the chemicals sector, which fell from €42.8 billion to €22.1 billion. Euro area posted a trade surplus of €9.9 billion (~$11.48 billion) in April 2025, down from €13.6 billion in April 2024, while the EU surplus fell to €7.4 billion (~$8.58 billion). Euro area exports totalled €243 billion (â€'1.4 per cent), and imports €233.1 billion (+0.1 per cent). From January to April 2025, euro area exports rose to €1,004.9 billion and EU exports to €908.5 billion (+6.4 per cent). However, when compared to April 2024, the drop of euro area balance appears more moderate (down by €3.7 billion). This year-over-year (YoY) decrease is largely attributable to the lower surplus in the 'machineries & vehicles' sector, which declined from €16.8 billion to €12.8 billion. The deficit of energy products showed a modest improvement of €0.5 billion compared to the same month of the previous year. In January to April 2025, the euro area recorded a surplus of €71 billion, compared with €68.6 billion in January-April 2024. Between January and April 2025, euro area exports of goods to the rest of the world rose to €1,004.9 billion, marking a 5.5 per cent increase compared to the same period in 2024, while imports grew by 5.6 per cent to €933.9 billion. Intra-euro area trade also saw a modest rise, reaching €878.9 billion, up by 0.8 per cent YoY. In April 2025, extra-EU goods exports amounted to €218.2 billion, a decline of 1.9 per cent from €222.4 billion in April 2024. Imports from non-EU countries rose slightly by 0.5 per cent, reaching €210.7 billion compared to €209.7 billion a year earlier. The EU balance declined to €7.4 billion in April 2025, down significantly from €35.5 billion in March 2025. This drop was primarily driven by the contraction of the chemicals sector surplus, which fell from €41.6 billion to €20.4 billion—a reduction of over 50 per cent. However, compared to April 2024, when the total surplus was €12.8 billion, the decrease was more modest, amounting to €5.4 billion. The YoY decline is largely attributable to the balance of the 'machineries & vehicles' sector, which dropped from €21 billion in April 2024 to €15.2 billion in April 2025. In January to April 2025, the EU recorded a surplus of €58.9 billion, compared with €63.7 billion in January-April 2024. From January to April 2025, extra-EU exports of goods increased to €908.5 billion, up 6.4 per cent compared to the same period in 2024. Imports also rose by 7.5 per cent, reaching €849.6 billion. Intra-EU trade climbed to €1,379.5 billion, reflecting a 0.9 per cent rise over January—April 2024. Fibre2Fashion News Desk (SG)
Euronews
12-05-2025
- Business
- Euronews
Gas prices climb in EU for first time since 2022? Who pays more?
The EU is feeling the bite of energy prices going up again. Gas reached its highest cost on record in the second half of 2024, Eurostat reports. The average rate is now €12.33 per 100 kWh, up from €11.04 in the first half of last year. It is also the first time that prices in the EU are climbing up, following the 2022 energy crisis. However, unlike three years ago, when the war in Ukraine and the cut in Russian gas imports (from 45% in 2021 to a projected 13% in 2025) sent prices soaring, this time, taxes are mainly responsible for the spike. "The increase is largely driven by raised taxes in many EU countries, as earlier alleviation measures were scaled back.", says Eurostat. Considering both EU and extra-EU countries, price differences are huge. They range from €18.93 per 100 kWh in Sweden and €16.71 in the Netherlands, to €1.73 in Georgia, €2.13 in Turkey, €3.15 in Hungary, €4.56 in Croatia, €4.92 in Serbia, €5.13 in Bosnia-Herzegovina and €5.41 in Romania. None of the countries with the cheapest gas prices - excluding Croatia and Romania - cut Russian gas supplies. The picture is slightly different when actual purchasing power is taken into account. In the EU, Portugal and Italy are actually the countries paying the most for natural gas. Croatia and Romania could cut reliance on Russia while keeping prices low thanks to long-term and ambitious energy strategies. Croatia's crucial liquefied natural gas terminal on Krk became operational in 2021 and the country now plans to ramp up gas production by 82% in the next three years. Romania is one of the most energy-independent countries in the EU, and is planning to go completely autonomous, gas-wise. Pivotal to it is its Neptune Deep offshore project. It's expected to become operational in 2027 and is aiming to double Romanian gas production. "Europe must become a refuge," French President Emmanuel Macron said last week, as he pledged to invest an 'additional' €100 million to help his country attract foreign scientists — in particular from the US. The "Choose France for Science" scheme came in response to the Trump administration's slashing of research funding in the US. But despite Macron's big and bold invitation to American scientists, French scientists and researchers more generally say they themselves are being worn down by government cuts. In a joint statement issued last Monday, a collection of education institutions and research unions claimed Macron's policies since 2017 had "considerably weakened higher education and research in France". In February, the government slashed the 2025 budget for higher education and research by €1 billion, and a further €493 million in cuts was announced in April. This has had a direct knock-on effect on the work and working conditions of researchers across a range of fields. "70% of university buildings in France are in a state of disrepair, while researchers in France are working on extremely tight budgets and the majority of institutions are in the red," Virginie Saint-James, Secretary General of Sup' Recherche UNSA, a union for academic researchers, told Euronews. "We are very keen to welcome individuals who have been labelled "scientific refugees", but that does not mean the situation is perfect here," she added. France's Aix-Marseille University has unlocked its own funds to welcome top-level researchers, with the institution announcing a €15 million programme to host US scientists over the next three years. Under the scheme, a select number of scientists are to be paid a salary of €250,000 each per year, with a €500,000 to €600,000 budget to complete their research. Saint-James told Euronews that the contrast with what domestic researchers are facing is stark. "These announcements are very surprising and bear no resemblance to what researchers earn in France, when you think that the average gross salary of a teacher-researcher in France is €63,000 per year," she said. "There are huge double standards. Some researchers in France have to cancel train tickets for thesis juries because their lab doesn't have any money." Others are concerned that Macron and Europe are focused on welcoming scientists, but not valuing the importance of work conducted by researchers in other fields. "The discussion has revolved around attracting researchers from strategic sectors which conceal clear economic motivations", said Boris Gralak, general secretary of the National Union of Scientific Research. "The focus has been on getting scientists over those who work in the field of AI and climate change, but in reality the Trump administration's cuts are occurring across the board in research, also affecting gender studies for example. So why is nobody talking about bringing these professionals over?" Meanwhile, a number of young French scientists are growing increasingly disenchanted with the sector because of poor working conditions. This was the case for 32-year old Elise Bordet, who had always dreamt of pursuing a career in science. She holds a PhD in immunology. "'Your salary as a researcher will be pocket money, it's good that your boyfriend earns a good living' — that's what my PhD supervisor said to me," recalled Bordet on LinkedIn recently. The struggles of finding work led Bordet to leave science altogether and set up her own business. She told Euronews that many other young scientists feel the same. "On average you are expected to accept short-term research contracts for around 10 years before landing a full-time contract," she explained. "In my field of research, I would be aiming to be paid €1,800 per month after a decade of work." On top of this, Bordet remains sceptical that conditions in French laboratories can really live up to what many US scientists are used to. "France is behind on the US, in many labs we use complicated and lengthy old-fashioned techniques to cut down on costs and are still working on very old software in many places," she said.
Fibre2Fashion
25-04-2025
- Business
- Fibre2Fashion
Euro area trade surplus with rest of world estimated at â¬24 bn in Feb
The euro area recorded a trade surplus of €24 billion (~$25.68 billion) in goods with the rest of the world in February 2025, up from €21.7 billion in February 2024, according to the initial estimate by Eurostat. The euro area exports of goods to the rest of the world in February 2025 were €248.7 billion, an increase of 6.2 per cent compared to February 2024. In February 2025, the euro area posted a €24 billion (~$25.68 billion) trade surplus, up from €21.7 billion in 2024, with exports rising 6.2 per cent. The chemicals sector saw notable growth. From January-February 2025, euro area exports rose 4.5 per cent, imports 6.6 per cent. The EU recorded a €17.4 billion (~$18.62 billion) surplus in Jan-Feb 2025, down from €28.5 billion same period last year. In February 2025, the euro area surplus saw a substantial increase from €0.8 billion in January 2025. Compared to the same period last year, the surplus in the chemicals sector saw a remarkable increase, from €19.2 billion to €30.3 billion. Meanwhile, sectors such as machineries and vehicles and other manufactured goods experienced a slight decrease compared to February 2024, Eurostat said in a press release. In January to February 2025, the euro area recorded a surplus of €24.8 billion, a decrease compared with €32.3 billion in January-February 2024. The euro area exports of goods to the rest of the world rose to €480.9 billion (an increase of 4.5 per cent compared with January-February 2024), and imports rose to €456.1 billion (an increase of 6.6 per cent compared with January-February 2024). Intra-euro area trade rose to €429.1 billion in January-February 2025, an increase of 0.2 per cent compared with January-February 2024. In February 2025 compared with January 2025, euro area seasonally adjusted exports increased by 4.5 per cent, and imports increased by 2.0 per cent. The seasonally adjusted balance was €21.0 billion, an increase compared with the previous month of €14.4 billion. In the last three months, seasonally adjusted exports in the euro area increased by 4.6 per cent, while imports increased by 2.0 per cent, compared with September-November 2024. In the European Union (EU), extra-EU goods exports totalled €434.3 billion during January–February 2025, marking a 5.8 per cent rise compared to the same period in 2024, while imports grew by 9.1 per cent to €416.9 billion. As a result, the EU recorded a surplus of €17.4 billion (~$18.62 billion), compared with €28.5 billion in January-February 2024. Intra-EU trade remained steady at €671.8 billion during January-February 2025, showing no significant change compared to the same period in 2024. In February 2025, the EU surplus rebounded significantly compared to January 2025, rising from a deficit of €5.6 billion to a surplus of €23.0 billion. Compared to the same period last year, the chemicals sector witnessed a remarkable increase, with its balance rising from €17.3 billion to €28.6 billion. Meanwhile, sectors such as machineries and vehicles experienced a decrease of the balance, from €23.7 billion to €19.4 billion. Other manufactured goods shifted from a surplus of €2.6 billion to a deficit of €0.6 billion. In February 2025, compared to January 2025, seasonally adjusted exports from the EU27 rose by 4.8 per cent, while imports grew by 1.1 per cent. The seasonally adjusted trade balance reached €19.0 billion, up by €10.6 billion compared to January. In the last three months, seasonally adjusted exports and imports in the EU rose by 5.7 per cent and 2.7 per cent, respectively. Fibre2Fashion News Desk (SG)
Zawya
16-04-2025
- Business
- Zawya
EU's exports of medicinal, pharma products up by 13.5% in 2024
Brussels: In 2024, EU exports of medicinal and pharmaceutical products increased by 13.5 per cent compared with 2023, reaching Euro 313.4 billion. At the same time, imports only recorded a modest increase of 0.5 per cent, amounting to Euro 119.7 billion, according to figures published by Eurostat, the statistical office of the European Union. Consequently, in 2024, the EU's trade surplus in medicinal and pharmaceutical products came to a total of Euro 193.6 billion, marking a record high. Last year, Germany was the EU's largest extra-EU exporter of medicinal and pharmaceutical products (Euro 67.9 billion), followed by Ireland (Euro 56.6 billion) and Belgium (Euro 41.4 billion). The largest extra-EU importers were Germany (Euro 23.0 billion), Belgium (Euro 21.3 billion) and the Netherlands (Euro 14.7 billion). The main destination for extra-EU exports of medicinal and pharmaceutical products in 2024 was the United States (38.2 per cent of all exports outside the EU; Euro 119.8 billion), followed by Switzerland (16.4 per cent; Euro 51.3 billion) and the United Kingdom (5.8 per cent; Euro 18.2 billion). Most of the imports to the EU came from the United States (38.3 per cent; Euro 45.9 billion), Switzerland (32.6 per cent; Euro 39.1 billion) and the United Kingdom (7.3 per cent; Euro 8.7 billion). © Muscat Media Group Provided by SyndiGate Media Inc. (
Times of Oman
15-04-2025
- Business
- Times of Oman
EU's exports of medicinal, pharma products up by 13.5 per cent in 2024
Brussels: In 2024, EU exports of medicinal and pharmaceutical products increased by 13.5 per cent compared with 2023, reaching Euro 313.4 billion. At the same time, imports only recorded a modest increase of 0.5 per cent, amounting to Euro 119.7 billion, according to figures published by Eurostat, the statistical office of the European Union. Consequently, in 2024, the EU's trade surplus in medicinal and pharmaceutical products came to a total of Euro 193.6 billion, marking a record high. Last year, Germany was the EU's largest extra-EU exporter of medicinal and pharmaceutical products (Euro 67.9 billion), followed by Ireland (Euro 56.6 billion) and Belgium (Euro 41.4 billion). The largest extra-EU importers were Germany (Euro 23.0 billion), Belgium (Euro 21.3 billion) and the Netherlands (Euro 14.7 billion). The main destination for extra-EU exports of medicinal and pharmaceutical products in 2024 was the United States (38.2 per cent of all exports outside the EU; Euro 119.8 billion), followed by Switzerland (16.4 per cent; Euro 51.3 billion) and the United Kingdom (5.8 per cent; Euro 18.2 billion). Most of the imports to the EU came from the United States (38.3 per cent; Euro 45.9 billion), Switzerland (32.6 per cent; Euro 39.1 billion) and the United Kingdom (7.3 per cent; Euro 8.7 billion).
