Connect with us

Trading

Euro zone trade surplus slips in July as imports rise sharply

Euro zone trade surplus slips in July as imports rise sharply 1

BRUSSELS (Reuters) – The euro zone’s trade surplus with the rest of the world declined in July from a year earlier, data released by the European Union’s statistics office showed on Thursday, as imports grew at a faster rate than exports.

Eurostat said the euro zone’s unadjusted trade surplus with the rest of the world fell to 20.7 billion euros ($24.4 billion)in July from 26.8 billion euros in July 2020.

However, the surplus for the first seven months of 2021 was comfortably higher, at 122.4 billion euros from 112.8 billion euros in Jan-July 2020.

Adjusted for seasonal swings, the euro zone trade surplus increased to 13.4 billion euros in July from 11.9 billion euros in June, as exports rose 1.0% on the month while imports were only 0.3% higher.

For the European Union as a whole, the non-seasonally adjusted data showed a decline in the trade surplus in both July and in the Jan-July period from a year earlier. The bloc is a major importer of oil and other raw materials and a major exporter of chemicals, machinery and vehicles.

The European Union’s trade deficit with China increased, while its surplus with the United States and Britain expanded in the first seven months of 2021.

To Britain, which has left the bloc, exports rose by 6.2% and imports fell by 17.1%, although Eurostat has calculated trade with Britain differently since the start of the year.

Goods that had an origin outside Britain are now treated as imports from that country rather than from Britain.

For Eurostat release, click on:

http://ec.europa.eu/eurostat/news/news-releases

($1 = 0.8493 euros)

(Reporting by Philip Blenkinsop)

Editorial & Advertiser disclosure
Our website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
Global Banking and Finance Review Awards Nominations 2021
2021 Awards now open. Click Here to Nominate

Recommended

Newsletters with Secrets & Analysis. Subscribe Now