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Eurozone trade surplus fell sharply in January
According to the report from Eurostat, the first estimate for euro area exports of goods to the rest of the world in January 2021 was €163.1 billion, a decrease of 11.4% compared with January 2020 (€184.0 bn). Imports from the rest of the world stood at €156.8 bn, a fall of 14.1% compared with January 2020 (€182.5 bn). As a result, the euro area recorded a €6.3 bn surplus in trade in goods with the rest of the world in January 2021, compared with +€1.5 bn in January 2020. Intra-euro area trade fell to €159.7 bn in January 2021, down by 3.9% compared with January 2020.
In January to December 2020, euro area exports of goods to the rest of the world fell to €2 131.4 bn (a decrease of 9.2% compared with January-December 2019), and imports fell to €1 897.1 bn (a decrease of 10.8% compared with January-December 2019). As a result the euro area recorded a surplus of €234.3 bn, compared with +€221.0 bn in January-December 2019. Intra-euro area trade fell to €1 798.2 bn in January-December 2020, down by 8.8% compared with January December 2019.
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