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Trade deficit at €1.4 bn

18/05/2021 16:53

 

The first estimate for euro area exports of goods to the rest of the world in March 2021 was €212.1 billion, an increase of 8.9% compared with March 2020 (€194.7 bn), which had been affected by the COVID-19 containment measures widely introduced by the Member States. Imports from the rest of the world stood at €196.3 bn, a rise of 19.2% compared with March 2020 (€164.7 bn). As a result, the euro area recorded a €15.8 bn surplus in trade in goods with the rest of the world in March 2021, compared with +€29.9 bn in March 2020. Intra-euro area trade rose to €199.0 bn in March 2021, up by 27.5% compared with March 2020.

In January to March 2021, euro area exports of goods to the rest of the world fell to €564.0 bn (a decrease of 0.6% compared with January-March 2020), and imports rose to €514.4 bn (an increase of 0.3% compared with January-March 2020). As a result the euro area recorded a surplus of €49.5 bn, compared with +€54.6 bn in January-March 2020. Intra-euro area trade rose to €514.2 bn in January-March 2021, up by 6.2% compared with January-March 2020.

For Cyprus the total volume of exports for the same period amounted to €0.5bn a -28% drop (€ 0.2bn tο the EU or -12% and €0.3bn to the rest of the world or -34%). Meanwhile imports amounted to €1.9bn a -5% drop (€1.2bn from the EU or 5% increase and €0.8bn from the rest of the world or -18%). As a result Cyprus recorded a €-1.4bn trade deficit, compared to  €-1.3bn for the same period of last year.

The first estimate for extra-EU exports of goods in March 2021 was €195.1 billion, up by 10.6% compared with March 2020 (€176.4 bn). Imports from the rest of the world stood at €176.3 bn, up by 19.0% compared with March 2020 (€148.1 bn). As a result, the EU recorded a €18.8 bn surplus in trade in goods with the rest of the world in March 2021, compared with +€28.3 bn in March 2020. Intra-EU trade rose to €303.7 bn in March 2021, +23.5% compared with March 2020.

In January to March 2021, extra-EU exports of goods fell to €508.7 bn (a decrease of 0.9% compared with January-March 2020), and imports fell to €460.7 bn (a decrease of 0.9% compared with January-March 2020). As a result, the EU recorded a surplus of €47.9 bn, compared with +€48.5 bn in January-March 2020. Intra-EU trade rose to €804.6 bn in January-March 2021, +6.0% compared with January-March 2020.