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Euro area

As a result, the euro area recorded a EUR 16.5 bln surplus in trade in goods with the rest of the world in May 2018, compared with +EUR 19.3 bln in May 2017. Intra-euro area trade rose to EUR 162.3 bln in May 2018, up by 0.5% compared with May 2017.

In January to May 2018, euro area exports of goods to the rest of the world rose to EUR 927.6 bln (an increase of 2.8% compared with January-May 2017), while imports rose to EUR 847.6 bln (also an increase of 2.8% compared with January-May 2017). As a result the euro area recorded a surplus of EUR 80.0 bln, compared with +EUR 78.0 bln in January-May 2017. Intra-euro area trade rose to EUR 808.0 bln in January-May 2018, up by 4.8% compared with January-May 2017.

European Union

The first estimate for extra-EU28 exports of goods in May 2018 was EUR 160.9 bln, down by 2.7% compared with May 2017 (EUR 165.4 bln). Imports from the rest of the world stood at EUR 160.7 bln, down by 1.4% compared with May 2017 (EUR 163.0 bln). As a result, the EU28 recorded a EUR 0.2 bln surplus in trade in goods with the rest of the world in May 2018, compared with +EUR 2.3 bln in May 2017. Intra-EU28 trade rose to EUR 294.7 bln in May 2018, +1.6% compared with May 2017.

In January to May 2018, extra-EU28 exports of goods rose to EUR 786.6 bln (an increase of 1.5% compared with January-May 2017), while imports rose to EUR 795.7 bln (an increase of 1.6% compared with January-May 2017). As a result, the EU28 recorded a deficit of EUR 9.1 bln, compared with -EUR 8.1 bln in January-May 2017. Intra-EU28 trade rose to EUR 1 457.3 bln in January-May 2018, +4.6% compared with January-May 2017.