Eurozone trade surplus grew by 23.5%
The trade balance was located at 14.7 billion euros according to statistics
The eurozone’s trade balance advanced 23.5% in August, reaching a surplus of 14.7 billion euros, according to international trade data for goods published this Wednesday by Eurostat, the community statistical office.
Specifically, exports of goods from the eurozone to the rest of the world contracted 2.2%, to 177.4 billion euros, while imports decreased 4.1% and stood at 162.6 billion euros. Commercial activity among the euro partners decreased 5.6%, to 133.7 billion euros.
With respect to the activity recorded in the first eight months of the year, the trade surplus reached 126,000 million euros, an increase of 5.3%. Exports in August stood at 1.546 billion (+ 3%), while imports reached 1.407 billion euros (+ 2.7%). The commercial activity of the euro partners between January and August 2019 grew by 1.2%, to 1.304 billion euros.
On the other hand, the trade balance of the European Union (EU) recorded a negative balance of 12.1 billion euros, 53.2% more than in August last year.
The exports of the community block to the rest of the world in the eighth month of 2019 fell by 3.3%, to 154.2 billion euros, while imports contracted 0.6%, to 166.3 billion euros. Commercial activity among the Twenty-eight fell to 253.1 billion euros, 4.3% less.
In the first eight months of the year, EU exports and imports grew 3.6% and 4.6%, respectively. In that period, the Twenty-eight registered a deficit of 23.1 billion euros, more than double of the one observed in the same period of 2018. Commercial activity among community partners grew by 1.7% and reached a value of 2.369 billion euros.
The United States remained the country to which the EU directed the most exports until August, with a value of 295.9 billion euros, ahead of China and Switzerland. In turn, the Twenty-eight imported goods mainly from China, the United States and Russia.
K. Tovar
Source: Invertia
