EU exports to Britain rise in June, fall for rest of the world

The eurozone recorded a nearly 22% increase of exports and a rise of almost 17% in imports on the month which resulted in a 18.1 billion euros surplus in June from 7.5 billion euros in May

European Union exports to Britain rose in June after a volatile start to the country’s first-year outside the single market, while the bloc’s exports to the rest of the world dropped slightly in the same month.

The EU statistics office Eurostat said on Friday seasonally adjusted exports to Britain increased by 4.7% in June on the month, whereas imports from the UK were “nearly unchanged” and the bloc’s exports to other countries dropped 0.6%.

The month-on-month rise in exports to Britain followed a plunge, surge, and second drop earlier this year, which were also recorded in imports, as firms adapted to new trade requirements after Brexit. The EU’s trade with the rest of the world has remained largely stable in the first half of the year.

Seasonally-adjusted exports to Britain remained below the levels of the last months of 2020 in June but were higher than June 2020 when COVID restrictions were stricter, Eurostat figures showed.

On the year, non adjusted figures showed that the 27-country bloc recorded a 22.3% increase in exports in June for a total volume of 188.3 billion euros ($221.1 billion), and a 29.6% rise in imports resulting in a trade surplus of 14.8 billion euros, down from 20 billion euros in June 2020.