The EU’s exports continued to drop in October, due to the pandemic’s effects, by 10.3% to €178.9 billion ($211.1 billion) in October, the 27-member bloc’s statistical office said on Wednesday.
The EU’s imports were also down by 14.3% to €150.8 billion, and the foreign trade surplus was €28.1 billion in October, Eurostat announced.
In October, intra-EU exports dropped 4.5% to stand at €266.6 billion.
The average euro/US dollar exchange rate was 1.18 in October.
In the first 10 months of this year, the bloc’s exports posted another decline of 11.3% (€1.58 trillion), while the trade balance saw a €162.2-billion surplus.
China was the bloc’s main trade partner in the first 10-month period, with €163.3 billion imports from the union and €314.4 billion in exports.
By export volume, the US, UK, Switzerland, and Russia followed China in the same period, said EuroStat.
Union-to-country trade balances indicated that the EU incurred the largest deficit with China — nearly €151.1 billion — and the highest surplus with the US — €121.3 billion — over the same period.
In the eurozone side, extra-EA exports dropped 9% to €199.3 billion in October, while they were down by 11.1% to €1.74 trillion.
The Eurozone/euro area or EA19 represents the member states that use the single currency, the euro.
Copyright 2022 Anadolu Agency. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.