More specifically, the first estimate for euro area (EA19) exports of goods to the rest of the world in February 2020 was €189.3 billion, an increase of 1.6% compared with February 2019 (€186.3 bn).

Imports from the rest of the world stood at €166.3 bn, a fall of 1.0% compared with February 2019 (€167.9 bn). As a result, the euro area recorded a €23.0 bn surplus in trade in goods with the rest of the world in February 2020, compared with +€18.5 bn in February 2019. Intra-euro area trade fell to €161.5 bn in February 2020, down by 0.6% compared with February 2019.

In January to February 2020, euro area exports of goods to the rest of the world rose to €373.2 bn (an increase of 0.9% compared with January-February 2019), and imports fell to €348.4 bn (a decrease of 0.7% compared with January-February 2019). As a result the euro area recorded a surplus of €24.8 bn, compared with +€19.1 bn in January-February 2019. Intra-euro area trade fell to €326.4 bn in January-February 2020, down by 0.9% compared with January-February 2019.

In Cyprus exports of goods reached €0.4 bn for the same two month period, recording a -40% decrease compared to the same period of last year ( €0.1 bn with the EU or -70% decrease and €0.3 bn with the rest of the world or 26% increase). Meanwhile, imports amounted to €1.5 bn, a 6% increase (€0.8 bn with the EU, or 16% increase and €0.6 with the rest of the world or -5% decrease). As a result Cyprus recorded a trade deficit of  -€1.0 bn, compared  to -€0.7 bn last year.

The first estimate for extra-EU exports of goods in February 2020 was €170.7 billion, up by 1.0% compared with February 2019 (€169.0 bn). Imports from the rest of the world stood at €148.3 bn, down by 2.8% compared with February 2019 (€152.5 bn). As a result, the EU recorded a €22.4 bn surplus in trade in goods with the rest of the world in February 2020, compared with +€16.4 bn in February 2019. Intra-EU trade rose to €253.3 bn in February 2020, +1.0% compared with February 2019.

In January to February 2020, extra-EU exports of goods rose to €337.0 bn (an increase of 0.7% compared with January-February 2019), and imports fell to €316.8 bn (a decrease of 1.6% compared with January-February 2019). As a result, the EU recorded a surplus of €20.2 bn, compared with +€13.0 bn in January-February 2019. Intra-EU trade rose to €510.2 bn in January-February 2020, +0.4% compared with January-February 2019.

Source: CNA

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