The Euro Area recorded a trade deficit of EUR 24.6 billion in June of 2022, marking the eighth consecutive gap, above market estimates of a EUR 20 billion deficit and swinging from a surplus of EUR 17.3 billion in the corresponding month of the previous year. Imports surged by 43.5 percent to EUR 276.8 billion, largely due to surging energy costs, while exports rose at a slower 20.1 percent to EUR 210 billion. The European Union posted a trade gap of EUR 200.7 billion in the first half of the year, compared to the surplus of EUR 83.2 billion from the corresponding period of the previous year. Purchases surged by 48.9 percent to EUR 1,438 million, led by a 151.1 percent rise in energy and a 45.8% increase in chemical imports. Exports in the period rose by 17.9% to EUR 1,237.3 billion, supported by a 93.9% rise in energy and 26.4% jump in chemicals. The trade deficit widened sharply from Russia (EUR 90.6 billion from EUR 24.6 billion) and China (EUR 189.5 billion from EUR 98 billion).
Balance of Trade in the Euro Area averaged 6736.37 EUR Million from 1999 until 2022, reaching an all time high of 30614.30 EUR Million in July of 2015 and a record low of -33121.20 EUR Million in April of 2022. This page provides the latest reported value for - Euro Area Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Euro Area Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on September of 2022.
Balance of Trade in Euro Area is expected to be -43605.00 EUR Million by the end of this quarter, according to 王者荣耀电竞(江西)积分排榜 global macro models and analysts expectations. In the long-term, the Euro Area Balance of Trade is projected to trend around 15150.00 EUR Million in 2023 and 14000.00 EUR Million in 2024, according to our econometric models.