29.Mar .2021 23:30

International Trade in Goods for EU Surplus €8.4 bn

International Trade in Goods for EU Surplus €8.4 bn
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Exports of goods from the EU in January 2021 amounted to €148.3 billion, which is 10.8% less than of January 2020. As for imports, the figure was 16.9% down and stood at €139.9 bn. Consequently, the EU recorded a €8.4 bn surplus in trade in goods with the rest of the world in January 2021, compared with a deficit of €2.2 bn in January 2020.
 
Pursuant to the first estimate of Eurostat, for extra-EU exports of goods in January 2021 was €148.3 billion, down by 10.8% compared with January 2020 (€166.2 bn). Imports from the rest of the world stood at €139.9 bn, down by 16.9% compared with January 2020 (€168.4 bn). As a result, the EU recorded a €8.4 bn surplus in trade in goods with the rest of the world in January 2021, compared with a deficit of €2.2 bn in January 2020. Intra-EU trade fell to €244.9 bn in January 2021, -5.4% compared with January 2020.

In January to December 2020, extra-EU exports of goods fell to €1 931.7 bn (a decrease of 9.4% compared with January-December 2019), and imports fell to €1 714.2 bn (a decrease of 11.6% compared with January-December 2019). As a result, the EU recorded a surplus of €217.5 bn, compared with +€191.5 bn in January-December 2019. Intra-EU trade fell to €2 843.2 bn in January-December 2020, -7.4% compared with January-December 2019.
 
The first estimate for euro area exports of goods to the rest of the world in January 2021 was €163.1 billion, a decrease of 11.4% compared with January 2020 (€184.0 bn). Imports from the rest of the world stood at €156.8 bn, a fall of 14.1% compared with January 2020 (€182.5 bn). As a result, the euro area recorded a €6.3 bn surplus in trade in goods with the rest of the world in January 2021, compared with +€1.5 bn in January 2020. Intra-euro area trade fell to €159.7 bn in January 2021, down by 3.9% compared with January 2020.
 
In January to December 2020, euro area exports of goods to the rest of the world fell to €2 131.4 bn (a decrease of 9.2% compared with January-December 2019), and imports fell to €1 897.1 bn (a decrease of 10.8% compared with January-December 2019). As a result the euro area recorded a surplus of €234.3 bn, compared with +€221.0 bn in January-December 2019. Intra-euro area trade fell to €1 798.2 bn in January-December 2020, down by 8.8% compared with January-December 2019.

In January 2021, following the end of the transition period, both EU exports to and imports from the United Kingdom dropped significantly, by 27.4% and 59.5% respectively. 
 
In January 2021, compared with January 2020, extra-EU exports of goods decreased for all Member States, except for Hungary (+1.1%), Slovenia (+3.0%), Estonia (+6.5%) and Lithuania (+11.7%). The largest decreases were registered in Cyprus (-45.8%) and Bulgaria (-22.5%).

With regard to the extra-EU imports, the picture is similar. In January 2021 compared to January 2020, all Member States recorded significant drops, with the exception of Luxembourg (+0.5%), Latvia (+2.1%) and Estonia (+33.0%). The largest overall falls were observed in Malta (-69.7%) and Portugal (-34.9%).