POST Online Media Lite Edition



 

EU trade in goods balance close to €200 bn surplus in 2019

Christian Fernsby |
In 2019, the trade in goods balance of the European Union of 27 Member States (EU) was in surplus by €197 billion, a significant increase with respect to 2018 (+€152 bn).

Article continues below



Topics: TRAD    SURPLUS   

Looking at the trend over time, after recording a small deficit between 2009 and 2011, the EU trade balance recorded a continuous surplus that peaked at €264 billion in 2016, and then decreased in 2017 and 2018.

Looking at the evolution of the flows, extra-EU exports of goods rose significantly between 2009 and 2012, remained relatively stable until 2016 and then increased again to reach €2 132 billion in 2019. Imports followed roughly the same pattern as exports.

They increased between 2009 and 2011, remained stable between 2011 and 2016 and rose again to reach €1 935 bn in 2019. These data are issued by Eurostat, the statistical office of the European Union.

Germany, main export destination for a majority of Member States

In almost all EU Member States, the main partner for exports of goods in 2019 was another member of the European Union, except for Germany and Ireland (the United States was the main destination of exports) as well as Sweden (Norway) and Lithuania (Russia).

Overall, Germany was the main destination of goods exports for 16 Member States. In some Member States, over a quarter of exports went to one single partner. This partner was Germany for Czechia (32% of exports of goods), Austria (29%), Poland and Hungary (both 28%), and the United States for Ireland (31%).

For extra-EU trade, the three main destinations of EU exports in 2019 were the United States (18% of all extra-EU exports), the United Kingdom (15%) and China (9%).

Intra-EU exports prevail in all Member States apart from Ireland and Cyprus

In 2019, the 27 EU Member States exported a total of €5 193 bn of goods, of which €3 061 bn (or 59%) were destined for another Member State (intra-EU trade).

With more than three-quarters of goods exported to other EU Member States, Slovakia and Luxembourg (both 80% intra-EU in total exports), Czechia (79%) and Hungary (78%) recorded the highest shares of intra-EU exports in 2019.

At the opposite end of the scale, Ireland (37%) and Cyprus (41%) were the only Member States that exported more goods to non-EU countries than within the EU in 2019.

Germany, also main source of imports for majority of EU Member States

As for exports, the main partner for imports of goods in 2019 was another member of the European Union in all Member States except Ireland (the United Kingdom was the main partner for goods imported), Lithuania (Russia) and the Netherlands. Overall, Germany was the main source of goods imports for 16 Member States.

In six Member States, more than 25% of imports of goods came from a single partner country in 2019: Austria (41% of imports of goods originated from Germany), Luxembourg (34% from Belgium), Portugal (30% from Spain), Czechia (29% from Germany), Ireland (28% from the United Kingdom) and Poland (27% from Germany).

For extra-EU trade, the main country of origin of goods imported into the EU in 2019 remained China (19% of all extra-EU imports), followed by the United States (12%) and the United Kingdom (10%).

Intra-EU imports prevail in almost all Member States

In 2019, the 27 EU Member States imported a total of €4 937 bn of goods, of which €3 002 bn (or 61%) came from another EU Member State (intra-EU trade).

More than three-quarters of total imports of goods originated from another EU Member State in Luxembourg (83%), Slovakia and Croatia (both 79%), Austria and Estonia (both 76%). In contrast, Ireland (38%) and the Netherlands (40%) were the only Member States where less than half of the imports came from within the EU. In the latter case, this is largely due to the so-called 'Rotterdam effect'.

Machinery & transport equipment dominated both EU exports and imports

In 2019, machinery and transport equipment continued to play a major role in EU trade in goods with the rest of the world, accounting for 41% of total extra-EU exports and 33% of imports.

Other manufactured goods (23% of extraEU exports and 24% of extra-EU imports) as well as chemicals (19% of extra-EU exports and 12% of extra-EU imports) also played a significant role in EU trade in goods in 2019. Energy made up a minor share of extra-EU exports (5%), but accounted for 19% of all imports.

40% of EU trade is with the United States, China and the United Kingdom

In 2019, the United States (€616 billion, or 15.2% of total extra-EU trade in goods, i.e. the sum of exports and imports), China (€560 bn, or 13.8%) and the United Kingdom (€512 bn, or 12.6%) were the three main goods trading partners of the European Union of 27 Member States (EU), well ahead of Switzerland (€257 bn, or 6.3%), Russia (€232 bn, or 5.7%), Turkey (€138 bn, or 3.4%) and Japan (€124 bn, or 3.0%).

However, the trends observed over time differ for these top trading partners of the EU. After remaining relatively stable around 12% between 2009 and 2014, the share of the United States in EU total trade in goods increased since to reach 15% in 2019.

The share of China has increased from 11% in 2009 to almost 14% in 2019. The share of the United Kingdom decreased from nearly 15% in 2009 to slightly below 13% in 2019. The shares of Switzerland, Turkey and Japan have remained relatively stable over the period, while the share of Russia has fluctuated.

The European Union (EU27) includes Belgium, Bulgaria, Czechia, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland and Sweden.


What to read next

Business activity expectations remain close to ten-year low in England
Goods imports from China in Netherlands worth over 39 billion euros
Industrial confidence indicator in Slovakia in January decreased by 3,3 p.p.

U.S.: Pacific storm will bring strong winds, heavy rain, and mountain snow

 
A strong storm that originated over the Pacific has tracked through the Great Basin and is currently transitioning across the Rockies to redevelop across the central High Plains later today into early Saturday morning.
 
 

Latest

U.S. drillers add oil and gas rigs to 586
Cold-Link Logistics will create 123 new jobs in Robeson County, North Carolina
ArcelorMittal plans Alabama mill to produce electrical steel, will create 1,300+ jobs
Manhattan Tunnel Project estimated to create 15,800 new jobs

NEWS

EPPO probes steel import tax fraud with searches in UK and Germany

Police investigate extensive data breach on Valio’s network
U.S.: Prolonged heavy rain and snowfall
Croatia: Investigation launched against 2 individuals and 1 company suspected of subsidy fraud
Latvia-Sweden subsea cable damaged in Baltic Sea
Storm brings rain and snow to southwest U.S.; snow on higher elevations
 

BUSINESS

U.S. oil rig count rises to 479

New York AG warns businesses against price gouging of eggs and poultry amid bird flu outbreak
Firms admit laundering Russian wood into EU
U.S. oil and gas rig count falls to 576
Kansas Governor announces $25M for Stafford County Transload Facility Project
Ukraine planning to resume port concessions in 2025
 

Trending Now

EU to support Envision AESC France's production of batteries for electric vehicles

Denmark supports hydrogen pipeline to Germany with $1.1bn of subsidies

More nuclear power plants will be approved across England and Wales

EU invests over €1.2 billion in cross-border infrastructure


POLITICS

South Africa raises national minimum wage to $1.55 per hour

Moldova announces tender for constructing wind, solar parks worth 200 mln euros
Denmark supports hydrogen pipeline to Germany with $1.1bn of subsidies
EU invests over €1.2 billion in cross-border infrastructure
More nuclear power plants will be approved across England and Wales
Colorado and United Kingdom sign agreement to foster trade and investment
 

Today We Recommend

Moldova announces tender for constructing wind, solar parks worth 200 mln euros


Highlights 

Cold-Link Logistics will create 123 new jobs in Robeson County, North Carolina

ArcelorMittal plans Alabama mill to produce electrical steel, will create 1,300+ jobs

Manhattan Tunnel Project estimated to create 15,800 new jobs


COMPANIES

Egypt unveils new Suez Canal navigation charts for expanded route

Maersk and Hapag-Lloyd launch Gemini Cooperation
EU to support Envision AESC France's production of batteries for electric vehicles
Ooredoo and ASN to build subsea cable for GCC countries and Iraq
Pratt & Whitney to expand manufacturing operations in North Carolina, create 325 jobs
GE Vernova to create 75 new jobs in Schenectady County, New York
 

CAREERS

Inizio appoints Colin Stanley as chief commercial officer

Bridgewest Group names operating partner and general manager, Europe
Keith Hale named group CEO to Unite Titian Software & Labguru (BioData)
Solithor appoints new CEO
McWin appoints Guillaume Charlin as managing partner
PrecisionLife: Bill Keating new chief commercial officer, diagnostics and healthcare
 

ECONOMY

U.S. becomes New Zealand's second largest export destination

Indonesia goes from $0.6 billion deficit to $5.9 billion surplus
Greece to repay $5.3 billion bailout debt early
Fraser Institute: Canada’s debt ranking falls from best in G7 to 7th worst
Kuwait reports $5.2 bln budget deficit in FY 2023-24
Eurozone reports modest Q1 GDP growth, stable annual inflation
 

EARNINGS

Ericsson Q2 sales down but North America up

Lockton revenue $3.55 billion
Motorcar Parts of America Q4 sales $189.5 million
Limoneira Q2 revenue $44.6 million
Lululemon athletica Q1 revenue increased 10% to $2.2 billion
PVH Q1 GAAP EBIT $205 million
 

OP-ED

Micromanaging is the worst enemy of efficiency and teamwork

Niger set to monetize massive gas reserves through Saharan natural gas pipeline
Putting the brakes on EV folly that choked the market
Oil discovery in Kavango Basin may mean huge benefits for Namibians
Cape Town and Dubai battle over Africa's energy future
Is America going to lose its superpower status?
 

AGRIFISH

U.S. resumes cattle and bison imports from Mexico under new protocol

Canada considers lowering tebuconazole residue limit on grapes, impacting U.S. imports
How expensive was agricultural land in Europe in 2023
Iran to import 50,000 tons of potatoes to stabilize prices amid rising food costs
JBS and partners donate 3 million tags to improve livestock traceability in Pará, Brazil
Hong Kong suspends of poultry meat and products from areas in U.S.
 

LEADERSHIP

Study: Missing a deadline has a bigger impact than you might think

Employers prefer younger job candidates for AI roles although experienced workers perform same or better
Study finds workers misjudge wage markets
Some organizations may need to expand their hierarchical structures earlier than others
Study finds there's right way and wrong way to deliver negative feedback in workplace
Allyship is critical and its needs appreciation
 

CRIME

Commission fines Pierre Cardin and its licensee Ahlers €5.7 million for restricting cross-border sales of clothing

BHP, Vale agree to pay $30B damages for Brazil dam disaster
Commission fines České dráhy and Österreichische Bundesbahnen €48.7 million over collusion to exclude common compe
SEC charges Keurig with making inaccurate statements regarding recyclability of K-Cup beverage pod
SEC charges John Deere with FCPA violations for subsidiary’s role in Thai bribery scheme
AG Bonta secures $3.9 million settlement with cryptocurrency company Robinhood
 

Magazine

TRAVEL

Radisson Hotel Group debuts in the heart of Tunisia’s capital city, Tunis

Morocco’s first Radisson branded hotel opens in Casablanca
Buna channels, an unreal and beautiful part of Bosnia and Herzegovina
JW Marriott unveils Mindful Haven with opening of JW Marriott Hotel Nairobi
Sotheby's Sports Week returns with fantastic artifacts
Red Roof properties open in Michigan
 

SEA, LAND, AIR

Citroën C3 Aircross, the most affordable compact SUV with 7 seats

2025 Chevrolet Equinox stands apart with fresh looks and capability
Hill Helicopters HX50, luxury in the sky
Opel Movano becomes fully equipped camper van
Porsche Panamera, new hybrid variants
Dodge Charger, 670 horsepower of electric
 

DESIGN

Cold night, hot fire pit, cool entertainment

Embellish your home with PVC panels
You'll have to hurry if you want one of 20 new Louis Vuitton watches
Luxury duvet looks good, fells good and keeps you healthy
Vacheron Constantin, watches for life and more
Schüller kitchens, where functionality marries design
 

GADGETS

MESA/Boogie Celebrates 40-year partnership with John Petrucci

reMarkable 2, monochrome tablet for your thoughts and your eyes
OnePlus Ace 3V, first with Snapdragon 7 Plus Gen 3
ASUS Zenfone 11 Ultra, flagship with a reason
Samsung Galaxy S24 is photography powerhouse
Casette tapes are making a big comeback, and so are portable players
 

HEALTH

Human cases of anthrax reported in western Mongolia

One more barrier to developing vaccine for HIV removed
Rwanda begins world's first clinical trial for treatment of Marburg virus disease
Rwanda restricts gatherings amid Marburg virus outbreak, to begin trials of vaccine
Teksas Attorney General reaches settlement in first-of-its-kind healthcare generative AI investigation
Potentially deadly fungal disease spreading in California
 

MEANTIME

India launches space docking experiment mission

World-first carbon-14 diamond battery made
Einstein Telescope step closer
Exoplanet-hunting telescope to begin search for another Earth in 2026
India to build first phase of its own space station by 2028
Roscosmos chief approves schedule of creating Russian orbital station through 2033