International Financial News 

Euro area registers international trade in goods surplus of €27.9bn

16th September 2020 

In July 2020, euro area exports of goods to the rest of the world was €185.2 billion, a decrease of 10.4 per cent compared with July 2019 (€206.7 billion)

In July 2020, COVID-19 containment measures widely introduced by the Member States continued to have a noticeable impact on international trade in goods.

The first estimate for euro area (EA19) exports of goods to the rest of the world, as relayed by Eurostat, was €185.2 billion, a decrease of 10.4 per cent compared with July 2019 (€206.7 billion).

Imports from the rest of the world stood at €157.3 billion, a fall of 14.3 per cent compared with July 2019 (€183.5 billion).

As a result, the euro area recorded a €27.9 billion surplus in trade in goods with the rest of the world in July 2020, compared with +€23.2 billion in July 2019.

Intra-euro area trade fell to €153.7 billion in July 2020, down by 8.6 per cent compared with July 2019.

In January to July 2020, euro area exports of goods to the rest of the world fell to €1 199.6 billion (a decrease of 12.4 per cent compared with January-July 2019), and imports fell to €1 086.6 billion (a decrease of 13.1 per cent compared with January-July 2019).

As a result, the euro area recorded a surplus of €113.0 billion, compared with +€119.3 billion in January-July 2019.

Intra-euro area trade fell to €1 021.8 billion in January-July 2020, down by 13 per cent compared with January-July 2019.

European Union

The first estimate for extra-EU exports of goods in July 2020 was €168.5 billion, down by 11.3 per cent compared with July 2019 (€189.9 billion).

Imports from the rest of the world stood at €142.6 billion, down by 16.0 per cent compared with July 2019 (€169.7 billion).

As a result, the EU recorded a €25.8 billion surplus in trade in goods with the rest of the world in July 2020, compared with +€20.2 billion in July 2019. Intra-EU trade fell to €239.2 billion in July 2020, -7.4 per cent compared with July 2019.

In the first seven months of 2020, China overtook the US as the main partner for the EU.

This result was due to an increase of imports (+4.9 per cent) combined with a slight drop of exports (-1.8 per cent), while trade with the US recorded a significant drop in both imports (-11.7 per cent) and exports (-9.9 per cent).


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Euro area registers international trade in goods surplus of €27.9bn