Euro area records Euros 225.7 bn trade surplus in 2019 and Cyprus Euros 5.1bn trade deficit

From January to December 2019, euro area exports of goods to the rest of the world rose to Euros 2 345.4 bn (an increase of 2.7% compared with January-December 2018), and imports rose to Euros 2 119.7 bn (an increase of 1.5% compared with January-December 2018), according to data released today by Eurostat, the statistical service of the EU.

As a result the euro area recorded a surplus of Euros 225.7 bn, compared with +Euros 194.6 bn in January-December 2018. Intra-euro area trade rose to Euros 1 965.1 bn in January-December 2019, up by 0.9% compared with January-December 2018.

In the EU, from January to December 2019, extra-EU27 exports of goods rose to Euros 2 132.3 bn (an increase of 3.5% compared with January-December 2018), and imports rose to Euros 1 932.0 bn (an increase of 1.3% compared with JanuaryDecember 2018). As a result, the EU27 recorded a surplus of Euros 200.3 bn, compared with +Euros 151.8 bn in January-December 2018. Intra-EU27 trade rose to Euros 3 057.8 bn in January-December 2019, +1.4% compared with January-December 2018.

Finally in Cyprus for the same 12 month period, exports of goods dropped to Euros 3.1 bn, or by -28% (Euros 1.2 bn or 15% in the EU and Euros 1.8 bn or -43% decrease to the rest of the world). Meanwhile Cyprus imports dropped to Euros 8.2 bn or by -11% (Euros 4.8 bn or 3% increasee with the EU and Euros 3.4 ?? -25% decrease from the rest of the world. As a result Cyprus recorded a Euros -5.1bn trade deficit (compared to Euros -4.9 bn in 2018), Euros -3.6 bn with the EU (stable) and Euros -1.5 bn with the rest of the world (Euros -1.3 bn in 2018).

Source: Cyprus News Agency