Eurozone’s foreign trade surplus rose to 23 billion euros in May

Eurostat reported that in May the export volume of the euro area increased by 7.1% compared to the same month a year earlier and reached 203.4 billion euros. Euro area countries imported products worth 180.3 billion euros this month, which is 4.2% higher than a year ago. Thus, the euro area trade surplus increased to 23 billion euros against the value of 15.7 billion euros in April. From the beginning of the year to May, exports grew by 5% to 973.5 billion euros and imports – by 5.2% to 890.8 billion euros. The foreign trade surplus reached 82.7 billion euros, an increase of 2.7% over 5 months. In May, the trade balance surplus of 7.8 billion euros was recorded in the European Union. The EU’s trade surplus with the United States rose to 62.1 billion dollars, and in trade with China, the deficit grew to 76.7 billion euros.

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