World, Economy, Europe

EU records $10.3B trade deficit in H1

Bloc's exports reach $1.128T while imports total $1.138T in first 6 months of 2019

Aysu Bicer, Tuba Şahin   | 16.08.2019
EU records $10.3B trade deficit in H1



The EU foreign trade balance posted a €9.1 billion ($10.3 billion) deficit in the first half of this year, Eurostat announced Friday.

The bloc's exports reached €998.4 billion ($1.128 trillion) in January-June, indicating a rise of 4.2%, year-on-year.

In the first six months of this year, the EU's imports from the rest of the world also increased 4.9% to total at €1 trillion ($1.138 trillion).

One euro was traded for $1.13 on average in the January-June period this year.

Eurostat data also showed that the U.S. was the bloc's main trading partner, receiving €219.4 billion ($247.9 billion) of EU goods in the first half.

The U.S. was followed by China, Switzerland, Russia and Turkey.

The EU's exports to Turkey shrunk by 19% to €35.9 billion ($40.6 billion), while its imports from the country increased 3.9% to hit €39.6 billion ($44.7 billion) during the same period.

China was the number one import source for the EU at €199.6 billion ($225 billion) -- nearly 20% of total imports.

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