July 16, 2018

The Euro Area

 According to the latest report published by Eurostat, the statistical office of the European Union, “The first estimate for euro area (EA19) exports of goods to the rest of the world in May 2018 was €189.6 billion, a decrease of 0.8% compared with May 2017 (€191.2 bn).” In comparison to May 2017, imports from the rest of the world rose by 0.7% to €173.1 bn.

Consequently, surplus in the trade in goods was recorded at €16.5 bn in the euro area compared with €19.3 bn in May 2017. The report also mentioned that in May 2018, there was a rise in the intra-euro area, as trade went up to €162.3bn. This reflects a 0.5% increase from that in May 2017.

Additionally, based on non-seasonally adjusted data, in the euro area there was an increase in the exports of goods between January to May 2018 by 2.8% to €927.6 bn. On the other hand, imports rose by 2.8% to €847.6 bn. This increase resulted in the surplus of the euro area amounting to €80.0 bn compared to €78.0 bn in January- May 2017.  However, in the intra-euro area, trade climbed to €808.0 bn up by 4.8% compared with January- May 2017.

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