BRUSSELS – The trade in goods between the European Union (EU) and the rest of the world saw a surge in March 2021, and the first quarter (Q1) showed signs of recovery to pre-pandemic levels, Xinhua news agency quoted Eurostat, the EU’s statistical service.
A Eurostat release yesterday showed that the first estimate for extra-EU exports of goods in March 2021 was €195.1 billion (RM984.94 billion), up by 10.6% compared with March 2020, and the imports stood at €176.3 billion, up by 19%.
In the first three months, the bloc’s exports and imports were estimated at €508.7 billion and €460.7 billion respectively, both down by 0.9% compared with the same period last year, when Europe was recognised as the epicentre of the Covid-19 pandemic by the World Health Organisation.
China remained the EU’s top trade partner in Q1, with imports and exports both increasing by over 20% year-on-year. The United States came next, with both imports and exports continuing to shrink.
Britain was the EU’s third-largest trade partner after the transition period ended on December 31, 2020, but the fallout of Brexit on the trade in goods was evident, as the EU’s exports to and imports from Britain in January-March suffered two-digit drops. – Bernama, May 19, 2021
