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In 2021, exports of goods by the European Union (EU) member states rose to €2180.5 billion—a rise of 12.8 per cent compared with the 2020 figure—and imports to those states rose to €2111.5 billion—an increase of 23 per cent compared with the previous year’s figure. As a result, the EU recorded a trade surplus of €68.9 billion last year compared with €215.8 billion in 2020.
Intra-EU trade rose to €3424.7 billion in 2021—a 19.9 per cent rise compared with the 2020 figure, the EU said in a press release.
In 2021, euro area exports of goods to the rest of the world rose to €2434.3 billion—an increase of 14.1 per cent over the 2020 figure, and imports rose to €2305.9 billion—a rise of 21.4 per cent compared with the 2020 figure. As a result the euro area recorded a surplus of €128.4 billion compared with €233.9 billion in 2020. Intra-euro area trade rose to €2 180.1 billion in 2021—up by 20.7 per cent over the 2020 figure.
In 2021, exports of goods by the EU member states rose to €2 180.5 billion—a rise of 12.8 per cent compared with the 2020 figure—and imports to those states rose to €2 111.5 billion—an increase of 23 per cent compared with the previous year’s figure. As a result, the EU recorded a trade surplus of €68.9 billion last year compared with €215.8 billion in 2020.
The first estimate for euro area exports of goods to the rest of the world in December 2021 was €218.7 billion, an increase of 14.1 per cent compared with December 2020’s €191.7 billion. Imports from the rest of the world stood at €223.3 billion, a rise of 36.7 per cent compared with the December 2020 figure of €163.4 billion, mainly driven by an increase in energy imports.
As a result, the euro area recorded a €4.6 billion deficit in trade in goods with the rest of the world in December 2021, compared with a surplus of €28.3 billion in December 2020. Intra-euro area trade rose to €191.9 billion in December 2021, up by 27.8 per cent compared with December 2020.
Fibre2Fashion News Desk (DS)
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