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European exports to US slow down by 28% in January

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€34.8 billion worth of goods were exported to the US in January, down nearly 28% on the same time last year

There was a sharp fall in trade between the EU and US at the start of the year, new figures from Eurostat show today.

A total of €34.8 billion worth of goods were exported to the US in January, down nearly 28% year on year.

Meanwhile €25.6 billion worth of goods were imported, a drop of 15%.

Trade at the start of this year would have been impacted by tariffs, while last year's trade may have been boosted by companies front-loading shipments.

Overall, EU exports fell by 7.6% in the month to €215.3 billion, Eurostat said.

Imports from the rest of the world stood at €217.2 billion, a fall of 7.3% compared with January last year, it added.