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EU trade balance posts $46.1B surplus in Jan-March16 May 2020

The EU's foreign trade balance saw a €42.7 billion (nearly $46.1 billion) surplus in January-March, the union's statistical authority said on Friday.

The 27-member bloc's exports of goods totaled €504.3 billion, posting a 3.2% decrease year-on-year, Eurostat data showed.

Its imports from the rest of the world amounted to €461.6 billion, falling 5.3% during the same period. 

The intra-EU trade also fell to €760.1 billion, marking a 2.4% decrease compared with the same period last year.

EU’s 6th largest trading partner

The US was the top market for EU exporters with €97.6 billion. 

The EU's other major export markets were the UK, China, Switzerland, Russia, and Turkey.

On the import side, China was the main source, with a total of €84.1 billion worth imports made from the country.

It was followed by the US, the UK, Russia, Switzerland, and Turkey.

In January- March, the bloc's trade balance saw the highest deficit with China -- €39.1 billion -- and the biggest surplus with the US -- €37.7 billion.

Turkey has been the sixth largest trading partner of the EU in the first three months of this year, with a trade volume of €35 billion.

EU exports to Turkey totaled €18 billion, while imports from the country were €17 billion during the same period.


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