BRUSSELS (Reuters – As the euro area had to pay much higher for energy imports, its unadjusted trade surplus fell more than anticipated in August.
According to Eurostat, the EU’s statistic office Eurostat reported that the August external trade surplus for the 19 euro-zone countries was 4.8 billion euros. This is compared with 14.0 billion euros one year ago. Reuters polled economists and expected a surplus of 16.1 billion euros.
Eurostat stated that trade surpluses were adjusted to seasonal variations and reached 11.0 billion.
Eurostat stated that in January and August, the European Union’s deficit in trade in energy rose to 151.9 Billion Euros from 108.7 Billion euros during the same period in 2020.
From 12.9 billion during the same time period in 2020, the EU’s deficit in trade with Russia rose to 37 billion euro in the first 8 months of 2019. The EU’s trade deficit with Russia, its main energy supplier, rose to 37 billion euros in the first eight months of this year, from 12.9 billion in 2020.
Energy’s impact offset an increase in British trade surplus after Brexit. This rose to 93.1 billion euro in January-August from 65.6 billion in the previous year.
Due to an increase in exports, the EU’s trade surplus with America jumped sharply to 110 Billion Euros from 92.6 Billion euros.
Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.