Weekly Economic and Financial Commentary – 17 February, 2020
The Euro area GDP rose by 0.9% YoY in Q4 2019 (+1.2% YoY in Q3) and by 1.2% YoY (+1.9% YoY in 2018) overall in 2019, according to a flash estimate published by Eurostat. The deceleration over 2019 largely reflects the weak industrial production which affected manufacturing activities in Germany (the biggest economy in the region) and other domestically induced uncertainties in France, Italy and Spain which slowed growth during the year. Elsewhere, the first estimate of the Euro area international trade revealed that the region’s exports of goods to the rest of the world rose by 2.7% YoY to €2,345.4 billion in 2019, while imports rose by 1.5% YoY to €2,119.7 billion. As a result, the euro area recorded a surplus of €225.7 billion, compared with a surplus of €194.6 billion in 2018.
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