World Bulletin / News Desk
The EU’s foreign trade balance saw a deficit of €17.1 billion ($21.03 billion) in the first two months of this year, EU statistics agency Eurostat announced on Friday.
In January and February, the EU’s exports of goods totaled €299.7 billion ($368.6 billion), up 4 percent year-on-year, while imports from the rest of the world stood at €316.8 billion ($389.6 billion), up 3.6 percent annually.
"As a result, the EU28 recorded a deficit of €17.1 billion, compared with €17.5 billion in January-February 2017," Eurostat said. "Intra-EU28 trade rose to €567.2 billion in January-February 2018, plus 6.6 percent compared with January-February 2017."
The two-month average EUR/USD exchange rate was around 1.23 this year, while €1 was trading for $1.06 on average over the same period last year.
The statistical authority also said the U.S. is the top export market for the EU with exports amounting to €61.7 billion ($75.9 billion), accounting for 20.58 percent of the 28 countries’ exports in January and February.
China, Switzerland, Turkey, and Russia came after the U.S. in the list of the EU’s main export markets, according to official data.
Over the same period, EU states imported the most from China -- €65.4 billion ($80.4 billion), or 20.64 percent of total imports -- followed by the U.S., Russia, Switzerland, and Norway.
Looking at the country-to-country trade balance, the 28-member EU bloc recorded the highest surplus with the U.S. -- €21.3 billion ($26.2 billion) -- and the largest deficit with China -- €35.2 billion ($43.3 billion) -- this January and February.
Property sales to foreigners see yearly increase of 23 pct from January to June, according to official report
US uranium production dropped from 49 percent in 1987 to 5 percent today
Chileshe Kapwepwe from Zambia becomes first woman to head trade bloc
Last month, inflation among EA19 countries rose to 2 percent, up 1.3 percent from same month last year, says Eurostat
BIST 100 climbs 0.10 pct, while Turkish lira gains value against foreign currencies
Nearly 8.5 million new passenger cars were registered in EU in first half of 2018, says manufacturers' association
Economic partnership agreement is biggest ever negotiated by EU and will create an open trade zone
BIST 100 rises 0.08 pct; US dollar/Turkish lira exchange rate stands at 4.8420
The dollar was up versus the yen but down against the euro and pound, with all eyes on US President Donald Trump's summit with Russian counterpart Vladimir Putin in Helsinki.
Tax revenues totals nearly $72.1 billion while interest payments amounts to over $8.2 billion in January-June period
BIST 100 rises over 700 points; USD/TRY exchange rate stays at 4.8360
Country's egg, chicken, turkey, and meat production climbed in May on yearly basis, says official data
BIST 100 rises over 400 points, while USD/TRY exchange rate drops to 4.8460
Saudi Arabia intends to invest as much as $10 billion in South Africa’s economy, with a focus on energy projects
Share of young people in Turkey age 15-24 who are not in employment, education, or training down 4.5 pct in Q1 year-on-year
Treasury and Finance Minister Berat Albayrak says effective Central Bank is among main policy targets of new era