EU’s trade deficit down to $11B year-on-year in Q1

ISTANBUL

The EU’s international trade gap fell to €10.1 billion (some $11 billion) year-on-year in the first quarter of this year, the bloc’s statistical office said on Tuesday.

The trade deficit was at €84.1 billion in the same period last year, according to Eurostat.

The EU’s exports totaled €649 billion, while imports amounted to €659.1 billion in the first three months.

The euro area also posted a trade deficit of €2.6 billion over the same period, down from €59.7 billion.

The euro area’s exports totaled €724.5 billion and imports amounted to €727.1 billion during the first quarter.