Eeurozone's trade surplus shrank in May

According to the report from  Eurostat, the first estimate for euro area exports of goods to the rest of the world in May 2021 was €188.2 billion, an increase of 31.9% compared with May 2020 (€142.7 bn), a month which had been heavily affected by the COVID-19 containment measures widely introduced by the Member States. Imports from the rest of the world stood at €180.7 bn, a rise of 35.2% compared with May 2020 (€133.7 bn). As a result, the euro area recorded a €7.5 bn surplus in trade in goods with the rest of the world in May 2021, compared with +€8.9 bn in May 2020. Intra-euro area trade rose to €181.5 bn in May 2021, up by 45.4% compared with May 2020.

In January to May 2021, euro area exports of goods to the rest of the world rose to €957.9 bn (an increase of 13.3% compared with January-May 2020), and imports rose to €878.2 bn (an increase of 12.7% compared with January-May 2020). As a result the euro area recorded a surplus of €79.7 bn, compared with +€66.1 bn in January May 2020. Intra-euro area trade rose to €867.6 bn in January-May 2021, up by 20.5% compared with January-May 2020.