BRUSSELS, Apr 16 (Reuters) – The European Union’s imports from the UK have almost halved in the first two months of the year since the latter left the EU single market, data released on Friday showed , and the trade surplus of the bloc of 27 countries with the United Kingdom increased, as exports decreased to a lesser extent.
The European Union statistical office, Eurostat, said that EU imports from the UK fell 47.0% year-on-year in January-February, to € 16.6 billion ($ 19.9 billion), while imports from the UK fell 47.0% year-on-year in January-February. Exports to the UK only decreased by 20.2%, to € 39.8 billion.
As a result, the EU’s trade surplus with the UK increased to € 23.2 billion in the first two months after the Brexit transition period expired, up from € 18.6 billion in the same period in 2020, when London still enjoyed unfettered access to the EU single market.
Eurostat said the euro area’s unadjusted trade surplus with the rest of the world fell to € 17.7 billion in February from € 23.4 billion in February 2020. However, due to a dynamic January, the cumulative result of the two months continued to be better than last year, reaching a surplus of € 28.7 billion, compared to € 25 billion in January-February 2020.
Adjusted for seasonal fluctuations, the euro zone’s trade surplus with the rest of the world was 18.4 billion in February, after 28.7 billion in January, as exports fell 2.5% in the month, while imports increased by 3.4%.
(1 dollar = 0.8351 euros)
(Reported by Jan Strupczewski; edited by Philip Blenkinsop; translated by Flora Gómez at the Gdansk newsroom)