EU Stats: Euro area international trade in goods surplus €21.4 bn

 

Euro area international trade in goods surplus €21.4 bn
€4.0 bn surplus for EU28

Euro Area

The first estimate for euro area (EA19) exports of goods to the rest of the world in May 2017 was €189.6 billion, an increase of 12.9% compared with May 2016 (€167.8 bn). Imports from the rest of the world stood at €168.1 bn, a rise of 16.4% compared with May 2016 (€144.4 bn). As a result, the euro area recorded a €21.4 bn surplus in trade in goods with the rest of the world in May 2017, compared with +€23.4 bn in May 2016. Intra-euro area trade rose to €162.4 bn in May 2017, up by 15.3% compared with May 2016.

International trade in goods of the euro area, € bn

In January to May 2017, euro area exports of goods to the rest of the world stood at €898.5 bn (an increase of 8.5% compared with January-May 2016) and imports at €815.6 bn (an increase of 12.3% compared with January- May 2016).
As a result the euro area recorded a surplus of €82.9 bn, compared with +€101.5 bn in January-May Intra-euro area trade rose to €771.2 bn in January-May 2017, +8.7% compared with January-May 2016.

European Union

The first estimate for extra-EU28 exports of goods in May 2017 was €165.4 billion, up by 15.9% compared with May 2016 (€142.7 bn). Imports from the rest of the world stood at €161.4 bn, up by 17.2% compared with May 2016 (€137.7 bn). As a result, the EU28 recorded a €4.0 bn surplus in trade in goods with the rest of the world in May 2017, compared with +€5.0 bn in May 2016. Intra-EU28 trade rose to €288.1 bn in May 2017, up by 12.7% compared with May 2016.

In January to May 2017, extra-EU28 exports of goods stood at €772.9 bn (an increase of 10.6% compared with January-May 2016) and imports at €776.6 bn (an increase of 12.0% compared with January-May 2016). As a result, the EU28 recorded a deficit of €3.7 bn, compared with a surplus of €5.7 bn in January-May 2016. Intra-EU28 trade rose to €1 387.9 bn in January-May 2017, +7.6% compared with January-May 2016.

Main trading partners  – EU28 – bn €/% growth by country, comparing Jan-May 16 to Jan-May 17 figures

United States: 158.7bn, 6.6%
China: 80.2bn, 20.3%
Switzerland: 64.7bn,  14%
Russia: 34.1bn, 24.6%
Turkey:33.6bn,  3.3%
Japan: 24.9bn, 11.9%
Norway: 21bn, 8.2%
South Korea: 20bn, 14.3%
India: 17bn, 10.3%
Canada: 15.8bn, 11.2%

United Kingdom’s total export trade is noted at €166.6 9bn in fifth place in terms of Member States’ total trade, representing 9% increase from the previous year’s period Jan-May 2016

€78.2bn of which is in Intra-EU trade, an increase of 6% from the previous year, and €88.4bn in extra-EU trade, representing 12% growth from the previous year’s period Jan-May 2016.

Overall in the EU28 list, Germany is ranked first with €532bn total trade with Member States’ total trade, Netherlands second with €235.1bn, followed by France €195.3bn and Italy €183.8bn in fourth place.

Source: Eurostat, published 14th July 2017

 

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