Eurozone reports trade surplus of €4.6 billion in July

But the 27-member European Union (EU) reported a trade deficit of €13.8 billion ($19.1 billion).

The euro zone consists of Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Slovenia and Spain. Month-on-month, seasonally adjusted exports of the euro zone fell 0.5% in July, while imports rose 3.6%; seasonally adjusted exports of the EU dropped 1.5% in July, while imports were up 3.2%. In the H1 of this year, the EU’s trade with most of its major partners grew. However, its exports to the United States decreased 2% as compared with the same period last year, and its imports from Norway and Russia were down 10% and 6% respectively. The largest increases were for exports to Russia (30%) and India (20%).

Meanwhile, the EU’s trade surplus with the US decreased to €38.4 billion in the first half of this year from €43.3 billion in the same period last year. The EU’s trade deficit with Russia dropped to €27.8 billion in the same period from €41.4 billion a year ago.

Concerning the total trade of EU member states, the largest trade surplus was observed in Germany with €97 billion in the H1 of this year, followed by the Netherlands with €20.6 billion, Ireland with €15.6 billion, and Sweden with €8.5 billion. Britain reported the largest trade deficit in the H1 of this year, with €65.4 billion, followed by Spain with €44.9 billion, France with €19.3 billion and Greece with €19 billion. (people.com.cn)