The Eurozone posted a trade deficit of EUR 1.5 billion in November 2021, the first gap since January 2014, amid a fast-recovering global demand, rising energy prices and the euro's weakness. Imports jumped 32% to an all-time high, mainly boosted by purchases of mineral fuels, lubricants and related materials (168.5%), manufactured goods (16.6%) such as chemicals and related products, and other manufactured goods (27.8%). Among major trade partners, imports rose from China (35.4%), the US (25.2%), Russia (123.3%), Switzerland (26.3%), and Norway (235.3%), but fell from the UK (-3.6%). Exports rose at a slower 14.4%, also hitting a record high, driven by sales of mineral fuels, lubricants and related materials (123.4%), manufactured goods (10.4%), food and live animals (9.8%) and other manufactured goods (14.9%). Exports were up to the US (15.5%) and Switzerland (14.2%), but declined to the UK (-3.8%) and China (-1.8%). source: EUROSTAT
Balance of Trade in the Euro Area averaged 7459.15 EUR Million from 1999 until 2021, reaching an all time high of 30614.30 EUR Million in July of 2015 and a record low of -16418.80 EUR Million in January of 2011. 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 January of 2022.
Balance of Trade in Euro Area is expected to be 7800.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Euro Area Balance of Trade is projected to trend around 31000.00 EUR Million in 2023, according to our econometric models.