Euro area records trade surplus; Cyprus records trade deficit

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

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

From January to December 2019, euro area exports of goods to the rest of the world rose to €2 345.4 bn (an increase of 2.7% compared with January-December 2018), and imports rose to €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 €225.7 bn, compared with +€194.6 bn in January-December 2018. Intra-euro area trade rose to €1 965.1 bn in January-December 2019, up by 0.9% compared with January-December 2018.

“The euro area recorded a surplus of €225.7 billion, compared with €194.6 billion in January-December 2018.”

In the EU, from January to December 2019, extra-EU27 exports of goods rose to €2 132.3 bn (an increase of 3.5% compared with January-December 2018), and imports rose to €1 932.0 bn (an increase of 1.3% compared with January-December 2018).

As a result, the EU27 recorded a surplus of €200.3 bn, compared with +€151.8 bn in January-December 2018. Intra-EU27 trade rose to €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 €3.1 bn, or by -28% (€1.2 bn or 15% in the EU and €1.8 bn or -43% decrease to the rest of the world).

“Cyprus imports dropped to €8.2 bn or by Minus 11%.”

Meanwhile, Cyprus imports dropped to €8.2 bn or by -11% (€4.8 bn or 3% increase with the EU and €3.4 ορ -25% decrease from the rest of the world.

As a result, Cyprus recorded a € -5.1bn trade deficit (compared to € -4.9 bn in 2018), € -3.6 bn with the EU (stable) and €-1.5 bn with the rest of the world (€-1.3 bn in 2018).

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