Seasonally adjusted goods exports increased by €78 million (+1%) to €12,919 million in July 2020 compared with June 2020, according to preliminary figures. Seasonally adjusted goods imports increased by €1,464 million (+22%) to €8,120 million leading to a decrease of €1,386 million (-22%) in the seasonally adjusted trade surplus to €4,799 million in July 2020 compared with the previous month. Exports increase slightly in July The (unadjusted)* value of goods exports for July 2020 was €13,422 million representing an increase of €62 million (+0.5%) when compared with July 2019. The value of goods exports for the period January to July 2020 was €95,132 million, an increase of €5,676 million (+6%) when compared with the first seven months of 2019. Exports of Medical and pharmaceutical products increased by €624 million (+14%) to €4,934 million, accounting for 37% of total exports. Exports of Organic chemicals increased by €158 million (+6%) to €2,704 million in July 2020 compared with July 2019. Exports of Professional, scientific and controlling apparatus decreased by €82 million (-14%) to €494 million over the same comparative period. Imports increase by €500 million in July The (unadjusted) value of goods imports for July 2020 was €8,426 million, an increase of €491 million (+6%) when compared with July 2019. The value of goods imports for January to July 2020 was €49,478 million, which is a decrease of €2,448 million (-5%) compared with January to July of 2019. Imports of Organic chemicals increased by €773 million (+199%) to €1,162 million. Imports of Other transport equipment, including aircraft decreased by €556 million (-24%) to €1,745 million in July 2020 compared with July 2019. Imports of Petroleum decreased by €257 million (-54%) to €220 million. The value of goods imports for July 2020 excluding SITC 79 (Other transport equipment, including aircraft) was €6,682 million, an increase of €1,047 million (+19%) when compared with the corresponding July 2019 figure of €5,635 million. Exports to Great Britain valued at almost €1 billion in July Exports to Great Britain decreased by €133 million (-12%) to €988 million in July 2020 compared with July 2019. Exports to Great Britain accounted for 7% of total exports. The value of goods exports to Great Britain in the first seven months of 2020 was €6,844 million, a decrease of €1,074 million (-14%) compared with January to July of 2019. Imports from Great Britain in July 2020 increased by €28 million (+2%) to €1,535 million compared with July 2019. Imports from Great Britain were 18% of the value of total imports in July 2020. The value of goods imports from Great Britain for January to July 2020 was €10,210 million, a decrease of €383 million (-4%) compared with the first seven months of 2019. Geographic breakdown of goods exports and imports The EU accounted for €5,148 million (38%) of total goods exports in July 2020 of which €1,390 million went to Germany and €1,227 million went to Belgium. Total EU exports in July decreased by €64 million (-1%) compared with July 2019. As the UK had exited the EU on January 31st 2020, this data compares EU trade excluding the UK for both periods for comparative purposes. The USA was the main non-EU destination accounting for €4,390 million (33%) of total exports in July 2020. The EU accounted for €3,051 million (36%) of total goods imports in July 2020, which is an increase of €273 million (+10%) compared with July 2019. The USA with €1,269 million (15%), Switzerland with €696 (8%) and China with €541 million (6%) were the other main non-EU sources of imports. Comments are closed.
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