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- Eurozone’s goods trade balance records EUR28.2 bln surplus in March
Eurozone’s goods trade balance records EUR28.2 bln surplus in March
Eurostat, the statistical office of the European Union (EU), announced on Friday that Eurozone's exports dropped by 6.2 percent y-o-y to EUR193.3 billion in March, while its imports plunged 10.1 percent y-o-y to EUR165.0 billion. As a result, the Eurozone recorded a EUR28.2 billion surplus in trade in goods with the rest of the world in March, compared with a surplus of EUR23.7 billion in the previous month and EUR22.7 billion in March 2019.
The report noted that the COVID-19 containment measures widely introduced by the Member States had a significant impact on international trade in goods in March.
In the first quarter of 2020, Eurozone exports of goods reduced 1.8 percent y-o-y to EUR566.0 billion, while its imports fell 4.1 percent y-o-y to EUR512.3 billion, resulting in a surplus of EUR53.7 billion compared with a EUR41.7-billion surplus in the first quarter of 2019.
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