Business

EU posts nearly $23B trade surplus in March

Bloc’s exports total €195.1B in March, imports amount to €176.3 billion, show Eurostat figures

The EU foreign trade balance saw a €18.8 billion ($22.9 billion) surplus in March of 2021, the bloc’s statistical office revealed on Tuesday.

According to Eurostat, the figure was down from €28.3 billion in March 2019.

Exports from the EU increased by 10.6% to €195.1 billion, while imports were €176.3 billion, up 19%, in March on an annual basis.

Intra-EU27 trade rose 23.5% to reach €303.7 billion year-on-year in the same period.

In January-March, China was the bloc’s main trade partner, with €54.7 billion in imports from the union and €105.1 billion in exports.

By export volume, the US, UK, China, Switzerland, and Russia topped the list, respectively, in the same period, said EuroStat.

China was the main source of EU imports, followed by the US, Russia, the UK, and Switzerland.

Country-to-country trade balances showed that the EU incurred the largest deficit with China nearly €50.4 billion and the highest surplus with the US €40 billion over the January-March period.

Meanwhile, in March, the eurozone posted a €15.8 billion trade surplus, with €212.1 billion in exports and €196.3 billion in imports.

The eurozone/euro area, or EA19, represents the member states that use the single currency, the euro.

Source
AA

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