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Eurozone trade surplus increases in October reaching €28 bn

posted onDecember 17, 2019
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The Eurozone recorded a €28 bn surplus in trade in goods with the rest of the world in October 2019, compared with +€13.2 bn in October 2018, Eurostat reported on Tuesday (Dec. 17). The figure is above expectations.

Exports of goods to countries outside the eurozone was €217.9 billion, an increase of 4.1% compared with October 2018 (€209.3 bn), while imports other countries stood at €189.9 bn, a fall of 3.2% compared with October 2018 (€196.1 bn). 

In January to October 2019, Eurozone exports of goods to the rest of the world rose to €1 959.8 bn (an increase of 3.1% compared with January-October 2018), and imports rose to €1 776.6 bn (an increase of 2% compared with January-October 2018). As a result, Eurozone recorded a surplus of €183.2 bn, compared with +€160.5 bn in January-October 2018. Intra-euro area trade rose to €1 647.7 bn in January-October 2019, up by 1.2% compared with January-October 2018.

Meanwhile, the European Union's (EU28) trade surplus with the rest of the world came in October at €2.2 billion compared with a deficit of €8 billion recorded in October 2018 .Intra-EU28 trade fell to €322.0 bn in October 2019, -0.7% compared with the same month a year earlier. 

The first estimate for extra-EU28 exports of goods in October 2019 was €190.1 billion, up by 5.6% compared with October 2018 (€180.0 bn). Imports from the rest of the world stood at €187.8 bn, down by 0.1% compared with October 2018 (€188.0 bn). 

The Eurozone includes Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland. The European Union (EU28) includes Belgium, Bulgaria, Czechia, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland, Sweden and the United Kingdom.