EU international trade up in July
WORLD ECONOMY

EU international trade up in July

Bloc's exports, imports post annual rise in July

News Service AA

The EU's exports and imports both increased on a yearly basis in July, by 10.3% and 18.7% respectively, official figures showed on Thursday.

The 27-member bloc's exports totaled €186.1 billion ($219.6 billion), while imports amounted to €170.4 billion, the statistical authority Eurostat said.

The average euro/US dollar exchange rate was 1.18 in the month.

The union's trade balance posted a surplus of €15.7 billion, down from €25.1 billion in the same month last year.

Intra-EU trade also soared 15.8% to stand at €277.7 billion year on year in July.

During the first seven months of this year, the EU's exports increased 13.2% to reach €1.23 trillion, while imports were up 14.7% to reach €1.13 trillion.

China was the bloc's main trade partner in the January-July period, with €130.7 billion imports from the union and €246.5 billion in exports.

Country-to-country trade balances indicated that the EU had incurred the largest deficit with China – €115.8 billion – and the highest surplus with the US – €98.2 billion – over the same period.

Turkey was the union's sixth-largest trade partner during the four-month period, with €43.6 billion imports from the union and €45 billion in exports.

On the eurozone side, extra-EA exports increased 11.4% to €206 billion in July. The trade surplus was €20.7 billion, down from €26.8 billion in July 2020.

The eurozone/euro area or the EA19 represents the member states that use the euro as their single currency, while the EU27 includes all member countries of the bloc.

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