Seasonally adjusted goods exports decreased by €604 million (-4%) to €13,220 million in February 2019 compared with January 2019, according to preliminary figures.
Seasonally adjusted goods imports increased by €265 million (+4%) to €6,925 million leading to a decrease of €868 million (-12%) in the seasonally adjusted trade surplus to €6,295 million in February 2019 compared with the previous month (see Table 2).
Exports increased by over €2 billion in February
The (unadjusted)* value of goods exports for February 2019 was €12,614 million representing an increase of €2,212 million (+21%) when compared with February 2018. The value of goods exports for the period January and February 2019 was €26,313 million, an increase of €3,808 million (+17%) when compared with the first two months of 2018.
The biggest rate of growth in exports was of Organic chemicals, which increased by €1,157 million (+68%) to €2,870 million in February 2019 compared with February 2018.
Exports of Medical and pharmaceutical products increased by €330 million (+9%) to €4,013 million. This represents 32% of the value of total exports.
Exports of Electrical machinery, apparatus and appliances increased by €127 million (+32%) to €521 million, and exports of Office machinery and automatic data processing machines increased by €111 million (+35%) to €424 million over the same comparative period.
Imports decrease slightly in February
The (unadjusted) value of goods imports for February 2019 was €6,356 million representing a decrease of €67 million (-1%) when compared with February 2018. The value of goods imports for January and February 2019 was €13,086 million, which is an increase of €126 million (+1%) compared with the first two months of 2018.
Imports of Other transport equipment, including aircraft decreased by €236 million (-20%) to €931 million in February 2019 compared with February 2018.
Imports of Food and live animals increased by €80 million (+14%) to €647 million.
Imports of Medical and pharmaceutical products decreased by €342 million (-37%) to €581 million over the same comparative period.
The value of goods imports for February 2019 excluding SITC 79 (Other transport equipment, including aircraft) was €5,424 million, an increase of €169 million (+3%) when compared with the corresponding February 2018 figure of €5,255 million.
Exports to Great Britain increase in February
Exports to Great Britain increased by €166 million (+16%) to €1,224 million in February 2019 compared with February 2018. The main increase was in the exports of Mineral fuels, lubricants and related materials. Exports to Great Britain accounted for 10% of total exports.
Imports from Great Britain increased by €265 million (+19%) to €1,642 million compared with February 2018. The main increases were in the imports of Mineral fuels, lubricants and related materials and Machinery and transport equipment (see Table 5). Imports from Great Britain were 26% of the value of total imports in February 2019.
Geographic breakdown of goods exports and imports
The EU accounted for €6,101 million (48%) of total goods exports in February 2019 of which €1,626 million went to Belgium and €939 million went to Germany. Total EU exports in February increased by €676 million (+12%) compared with February 2018.
The USA was the main non-EU destination accounting for €3,720 million (29%) of total exports in February 2019.
The EU accounted for €3,982 million (63%) of total goods imports in February 2019, which is a decrease of €76 million (-2%) compared with February 2018.
The USA with €1,022 million (16%) and China with €343 million (5%) were the main non-EU sources of imports.
*It should be noted that the detailed data described in Paragraph 3 onwards, and the data in Tables 1,3,4 and 5 are not seasonally adjusted. Only the data described in the first two paragraphs and in Table 2 are seasonally adjusted.