EU Announces Drop In Its Int'l Trade

  • 16/12/2020

Brussels : As per reports, the European Union exports of goods to the rest of the world from January to October 2020 fell to 1.57 trillion euro. A decrease of 11.3% reported compared with January-October 2019.  EU's statistical agency Eurostat reported that EU imports of goods from the rest of the world from January to October 2020 fell to 1.41 trillion euro, a decrease of 13.0% compared with January-October 2019. The largest drop was recorded in Machinery and Vehicles and other manufactured products, while food, drink and chemicals were the only product groups with levels close to those observed in 2019. Earlier in the first ten months of 2020, China was the main partner for the EU. The new result was due to an increase of EU imports by 3.4% while exports remained almost unchanged. Meanwhile, EU's trade with the United States recorded a significant drop in both imports by 13% and exports 10.2%. 

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