The European Union extra-EU exports amount in May reached $141.5 billion, dropped due to pandemic. The 27- countries member in the bloc said the export drop to €129.8 billion ($141.48 billion), or by 29.7%. The exports also dropped for the first five months of 2020, by €767.7 billion or lower 12.9% in year-on-year comparison.
The EU imports in May reach €122.6 billion, with a foreign trade surplus of €7.1 billion, way below foreign trade surplus in May 2019, €18.6 billion.
Intra-EU trade also declined to €195.7 billion or 27.3% year-on-year. Between January-May 2020 EU foreign trade balance posted a surplus of €54.8 billion, but lower in comparison from 2019 with €64.1 billion. Machinery and vehicle share was €287.5 billion, manufactured goods with €167.8 billion, and chemicals with €178.4 billion.
The average exchange rate in May for Euro/USD was 1.09.
The United States was the EU’s main trade partner between these periods, scoring €145 billion in imports from the EU and exporting €89.9 billion to the region. Other biggest volume trading partners for the EU are China, Switzerland, the United Kingdom and Russia with no particular order.
Biggest import source was China with €148.2 billion, and other top 5 biggest import countries are the UK, Switzerland, US and Russia with no particular order.
In country-to-country trade balances, the figure shows that the EU had the highest surplus with the US, with €55.1 billion and acquired the largest deficit with China by nearly €72.6 billion, over the same period between January-May.
In the Eurozone side, all members from the EU who use single currency, the euro, the extra-EA exports down by 13.1% to €845.8 billion in January-May 2020, and by 29.5% to €143.3 billion in the month of May.
