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Trade deficit at €4.9 bn

15/02/2021 13:15

The first estimate for euro area exports of goods to the rest of the world in December 2020 was €190.7 billion, an increase of 2.3% compared with December 2019 (€186.4 bn). This is the first increase since February 2020. Imports from the rest of the world stood at €161.5 bn, a fall of 1.3% compared with December 2019 (€163.7 bn).

As a result, the euro area recorded a €29.2 bn surplus in trade in goods with the rest of the world in December 2020, compared with +€22.6 bn in December 2019. Intra-euro area trade rose to €148.7 bn in December 2020, up by 0.9% compared with December 2019.

In January to December 2020, euro area exports of goods to the rest of the world fell to €2,131.4 bn (a decrease of 9.2% compared with January-December 2019), and imports fell to €1,897.0 bn (a decrease of 10.8% compared with January-December 2019).

As a result the euro area recorded a surplus of €234.5 bn, compared with +€221.0 bn in January-December 2019. Intra-euro area trade fell to €1,797.0 bn in January-December 2020, down by 8.9% compared with January-December 2019.

The first estimate for extra-EU exports of goods in December 2020 was €174.9 billion, up by 1.5% compared with December 2019 (€172.3 bn). Imports from the rest of the world stood at €144.8 bn, down by 3.6% compared with December 2019 (€150.2 bn).

As a result, the EU recorded a €30.1 bn surplus in trade in goods with the rest of the world in December 2020, compared with +€22.1 bn in December 2019. Intra-EU trade rose to €235.1 bn in December 2020, +3.8% compared with December 2019.

In January to December 2020, extra-EU exports of goods fell to €1,931.6 bn (a decrease of 9.4% compared with January-December 2019), and imports fell to €1,714.3 bn (a decrease of 11.6% compared with January-December 2019).

As a result, the EU recorded a surplus of €217.3 bn, compared with +€191.5 bn in January-December 2019. Intra-EU trade fell to €2,841.7 bn in January-December 2020, -7.5% compared with January-December 2019.

In Cyprus the total amount of exports for the same period was €2.7bn a -13% decrease compared to last year and the total amount of import €7.6bn a -7% decrease compared to last year, resulting in a trade deficit of -€4.9bn compared to -€5.1bn for the same period of last year.