Merchandise trade surplus increases in June

Latest reading: In June, the trade balance was USD +4.1 billion, following a USD +2.3 billion reading in the prior month. Over the last 12 months, the trade balance summed to USD +9.2 billion. Merchandise exports rose 34.3% in annual terms in June, following 25.4% growth in the prior month. June's reading was the strongest since May 2021. Merchandise imports increased 28.0% in year-on-year terms in June, following 24.0% growth in the prior month. June's reading was the strongest since June 2022. Both exports and imports were partly boosted by higher energy prices compared to the same period last year, though non-energy trade also rose by double digits.

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