Daily Management Review

The EU increased trade with other countries in May


07/17/2017


The volume of trade in the euro area sharply increased in May against the backdrop of growing exports and imports of goods with the rest of the world. This fact signalizes that the world trade is in good shape, Reuters reports.



pixabay
pixabay
The European Union, the main trader in the world, noted growth of trade with all major trading partners.

Eurostat, the statistical office of the European Union reported that 19 countries of the currency zone in May exported goods in the amount of 189.6 billion euro, which is 12.9% more compared to the same period last year.

According to data not adjusted for seasonal factors, imports also increased in annual terms by 16.4% to a total of 168.1 billion euro.

Both indicators were the second largest in the history of the euro area after the maximum reached in March, when exports exceeded 200 billion euro, and imports amounted to 176 billion euro.

A faster increase in imports compared to exports somewhat lowered the trade surplus, which in May amounted to 21.4 billion euro. This is lower than the 23.4 billion euro surplus registered in May 2016.

In May, trade among the 19 countries of the euro area also increased by 15.3% on an annual basis to 162.4 billion euro.

The European Union as a whole also recorded a 15.9% increase in exports to the rest of the world in May compared with the same period last year and a 17.2% increase in imports.

In the period from January to May, the block of 28 countries expanded its trade with all its main partners, while exports to the US grew by 6.6%, to China - by 20.3%, and imports increased by 4% and 6,8% respectively.

source: reuters.com






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