The value of goods exports from the euro area (EA19) to the rest of the world stood at €189.6 billion in May 2018, according to figures from Eurostat, meaning that the bloc recorded an international surplus of €16.5 billion of trade in goods for the period.
Goods exports were 0.8% down on the same month in the previous year, while imports from the rest of the world saw a rise of 0.7%. In May 2017, the surplus stood at €19.3 billion.
Over the period of January to May 2018, euro-area exports of goods to the rest of the world rose to €927.6 billion, which is an increase of 2.8%, compared to the previous year. Imports, valued at €847.6 billion, were also up 2.8% on the previous year.
As a result, the euro area recorded a surplus of €80.0 billion for the period, compared with €78.0 billion in the same period the previous year (January to May 2017).
The main export trading partners of the 28 EU countries in the period of January to May 2018 were the United States, which saw a 2.1% increase in exports, China, which saw a 2.5% increase in exports, and Switzerland, which saw a 3.7% decline in exports.
The highest growth rate for EU28 exports was recorded in Turkey, where they were up 10.4% on the same period in the previous year.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.