Euro area exports up 11%, Malta exports four times the EU average

The first estimate for euro area exports of goods to the rest of the world in March 2015 was €182.4 billion, an increase of 11% compared with March 2014 (€164.4 billion), according to Eurostat data.

Exports for Malta went up by 6% between January and March 2014 and the same quarter this year. Exports to countries outside the EU rose by 19%, four times the EU average. The news was welcomed by prime minister Joseph Muscat in a tweet. 

#Malta #exports for Q1 2015 up by 6%. Exports outside #Europe increase by 19%, four times the #EU average -JM

— Joseph Muscat (@JosephMuscat_JM) May 19, 2015

The data reveals that imports from the rest of the world stood at €159.1 billion, a rise of 7% compared with March 2014 (€148.3 billion). As a result, the euro area recorded a €23.4 billion surplus in trade in goods with the rest of the world in March 2015, compared with +€16.1 billion in March 2014. Intra-euro area trade rose to €150.0 billion in March 2015, +5% compared with March 2014.

In January to March 2015, euro area exports of goods to the rest of the world rose to €491.2 billion, an increase of 5% compared with January-March 2014, while imports remained nearly stable at €438.6 billion.

As a result, the euro area recorded a surplus of €52.6 billion, compared with +€30.7 billion in January-March 2014. Intra-euro area trade rose to €418.0 billion in January-March 2015, +1% compared with January-March 2014.

The first estimate for extra-EU28 exports of goods in March 2015 was €162.5 billion, up by 14% compared with March 2014 (€142.4 billion). Imports from the rest of the world stood at €151.7 bn, up by 9% compared with March 2014 (€138.9 billion). As a result, the EU28 recorded a €10.7 billion surplus in trade in goods with the rest of the world in March 2015, compared with +€3.6 in March 2014. Intra-EU28 trade rose to €272.0 billion in March 2015, +7% compared with March 2014.

In January to March 2015, extra-EU28 exports of goods rose to €427.4 billion (an increase of 5% compared with January-March 2014), while imports rose to €423.6 bn (+2% compared with January-March 2014). As a result, the EU28 recorded a surplus of €3.8 bn, compared with -€5.8 billion in January-March 2014. Intra-EU28 trade rose to €754.3 billion in January-March 2015, +3% compared with January-March 2014.