EU international trade soars in May
EUROPE

EU international trade soars in May

Bloc’s exports total €172.3B in May, imports amount to €164.4B, show Eurostat figures

News Service AA

EU exports and imports both rose sharply on a yearly basis in May, by 32.8% and 33.7% respectively, official figures showed on Friday.

The 27-member bloc's exports totaled €172.3 billion ($203.5 billion), while imports amounted to €164.4 billion, said the statistical authority Eurostat.

The union's trade balance posted a surplus of €7.9 billion.

Intra-EU trade also soared 41.6% to €276.9 billion in the month compared to May 2020, one of the heights of the coronavirus pandemic.

During the first five months of this year, the EU's exports rose 12% to reach €860.2 billion, while imports climbed 11% to reach €791.1 billion.

China was the bloc's main trade partner this January-May, with €92.5 billion in imports from the union and €174.6 billion in exports.

Country-to-country trade balances indicated that the EU had incurred the largest deficit with China – €82.1 billion – and the highest surplus with the US – €66.9 billion – over the same period.

Turkey was the union's sixth-largest trade partner during the five-month period, with €32.2 billion in imports from the union and €30.6 billion in exports.

On the eurozone side, extra-EA exports jumped 31.9% to €188.2 billion in May, while the trade surplus was €7.5 billion.

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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