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Financial News: Eurozone Trade Surplus Declines On Weak Exports

Eurozone Trade Surplus Declines On Weak Exports

03/18/2021 - 06:23:00 (RTTNews)

(RTTNews) - The euro area trade surplus decreased in January from the previous month on weak exports, Eurostat reported Thursday.

The trade surplus fell to a seasonally adjusted EUR 24.2 billion from EUR 27.5 billion in December.

Exports were down 2.8 percent month-on-month in January and imports dropped 1.3 percent.

Following the end of the transition period, exports to the UK dropped significantly by 31.9 percent between December and January, while exports to other non-EU countries increased 4.9 percent.

On an unadjusted basis, overall exports and imports decreased 11.4 percent and 14.1 percent annually, respectively. The trade surplus totaled EUR 6.3 billion versus EUR 1.5 billion in the same period last year.

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