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Euro area international trade in goods surplus €28.2bn

Christian Fernsby ▼ | May 18, 2020
In March 2020, the coronavirus containment measures widely introduced by the Member States had a significant impact on international trade in goods.
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Euro area

The first estimate for euro area (EA19) exports of goods to the rest of the world in March 2020 was €193.3 billion, a decrease of 6.2% compared with March 2019 (€206.1 bn). Imports from the rest of the world stood at €165.0 bn, a fall of 10.1% compared with March 2019 (€183.5 bn).

As a result, the euro area recorded a €28.2 bn surplus in trade in goods with the rest of the world in March 2020, compared with +€22.7 bn in March 2019. Intra-euro area trade fell to €153.3 bn in March 2020, down by 12.1% compared with March 2019.

In January to March 2020, euro area exports of goods to the rest of the world fell to €566.0 bn (a decrease of 1.8% compared with January-March 2019), and imports fell to €512.3 bn (a decrease of 4.1% compared with January - March 2019).

As a result the euro area recorded a surplus of €53.7 bn, compared with +€41.7 bn in January-March 2019. Intra-euro area trade fell to €480.0 bn in January-March 2020, down by 4.7% compared with January-March 2019.

European Union

The first estimate for extra-EU exports of goods in March 2020 was €167.4 billion, down by 10.2% compared with March 2019 (€186.4 bn). Imports from the rest of the world stood at €145.2 bn, down by 12.2% compared with March 2019 (€165.4 bn).

As a result, the EU recorded a €22.2 bn surplus in trade in goods with the rest of the world in March 2020, compared with +€21.0 bn in March 2019. Intra-EU trade fell to €249.5 bn in March 2020, -7.9% compared with March 2019.

In January to March 2020, extra-EU exports of goods fell to €504.3 bn (a decrease of 3.2% compared with January-March 2019), and imports fell to €461.6 bn (a decrease of 5.3% compared with January - March 2019).

As a result, the EU recorded a surplus of €42.7 bn, compared with +€34.0 bn in January-March 2019. Intra-EU trade fell to €760.1 bn in January-March 2020, -2.4% compared with January-March 2019.

The euro area (EA19) includes Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.

The European Union (EU27) includes Belgium, Bulgaria, Czechia, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland and Sweden.


 

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