ユーロ圏:　輸出入伸び　減速傾向　2021年8月

Euro Area's merchandise exports stood at EUR 184.3bn in August, the first Eurostat estimate shows. This translates into an annual increase of 18.2% y/y, substantially accelerating from the July growth rate of 11.4% y/y. That way, the exports essentially bucked the slow-down trend observed since May 2021, which was mainly due to the subsiding low-base effect. Imports did so too. Euro Area's imports of goods were worth EUR 179.5bn in August 2021, jumping by 26.5% y/y. By contrast, the July annual increase was 17.2% y/y.

As a result, the Euro Area recorded a EUR 4.8bn trade surplus in trade in goods with the rest of the world in August 2021, compared to EUR 14bn a year earlier. The narrowing down of the surplus can be explained with the imports growing at a much faster annual rate than the exports. On a seasonally and working-day adjusted terms the situation looks similar. 

Further data and analysis on the Euro Area economy are available on the CEIC Euro Area Economy in a Snapshot – Q3 2021 report.