The Euro Area recorded a €16.4 billion trade gap in March, compared to a €22.5 billion surplus a year earlier. The deficit in energy trade almost tripled to €128.7 billion in the first three months of the year, as the war in Ukraine exacerbated an existing energy crisis in Europe, sending energy prices even higher. Imports soared 35.4% to a record high of €266.5 billion while exports increased at a softer 14% to €250.1 billion, also a record value. The European Union's trade deficit with Russia more than quadrupled to €45.2 billion in the first quarter and the trade gap with China, the biggest trading partner, almost doubled to €91.9 billion. source: EUROSTAT

Balance of Trade in the Euro Area averaged 7122.30 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 -27247.60 EUR Million in January 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 May of 2022.

Balance of Trade in Euro Area is expected to be 11700.00 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 17000.00 EUR Million in 2023, according to our econometric models.

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Euro Area Balance of Trade



Calendar GMT Actual Previous Consensus TEForecast
2022-04-20 09:00 AM Feb €-7.6B €-27.2B €-29B
2022-05-16 09:00 AM Mar €-16.4B €-8.8B € 19.8B
2022-06-15 09:00 AM Apr €-16.4B


Related Last Previous Unit Reference
Balance of Trade -16382.40 -8777.70 EUR Million Mar 2022
Current Account to GDP 3.00 3.10 percent of GDP Dec 2020
Imports 266464.40 224459.60 EUR Million Mar 2022
Exports 250082.00 215681.90 EUR Million Mar 2022

Euro Area Balance of Trade
Euro Area runs regular trade surpluses primarily due to its high export of manufactured goods such as machinery and vehicles. Euro area is a net importer of energy and raw materials. Germany, Italy, France and Netherlands account for the largest share of total trade. Main trading partners are the United Kingdom (12 percent of total exports and 10 percent of imports) and the United States (13 percent of exports and 6 percent of imports).
Actual Previous Highest Lowest Dates Unit Frequency
-16382.40 -8777.70 30614.30 -27247.60 1999 - 2022 EUR Million Monthly
NSA

News Stream
Euro Area Posts Trade Gap for 5th Month
The Euro Area recorded a €16.4 billion trade gap in March, compared to a €22.5 billion surplus a year earlier. The deficit in energy trade almost tripled to €128.7 billion in the first three months of the year, as the war in Ukraine exacerbated an existing energy crisis in Europe, sending energy prices even higher. Imports soared 35.4% to a record high of €266.5 billion while exports increased at a softer 14% to €250.1 billion, also a record value. The European Union's trade deficit with Russia more than quadrupled to €45.2 billion in the first quarter and the trade gap with China, the biggest trading partner, almost doubled to €91.9 billion.
2022-05-16
Euro Area Posts Trade Deficit for 4th Month
The trade balance in the Euro Area swung to a EUR 7.6 billion deficit in February of 2022, the fourth consecutive period of a trade shortfall, from a EUR 23.6 billion surplus in the corresponding month of the previous year as soaring energy prices led to a sharp increase in the value of energy imports. Imports surged 38.8% from a year earlier to EUR 223.4 billion while exports rose at a softer 17% to EUR 215.8 billion. Data for the whole 27-nation European Union showed the cost of energy imports more than doubled in January and February from a year earlier, with marked increases also for imports of food and drink, raw materials, chemicals and machinery. The EU's trade deficits with energy supplier Russia more than tripled to EUR 25.2 billion in Jan-Feb and with Norway it grew to EUR 10.7 billion. The deficit also nearly doubled with China to about EUR 60 billion, and widened with India, Japan and South Korea. The EU maintained surpluses with the United States, Britain and Switzerland.
2022-04-20
Euro Area Posts Record Trade Deficit in January
The trade balance in the Euro Area swung to a €27.2 billion deficit in January of 2022 from a €10.7 billion surplus a year earlier. It is a record high trade gap as imports jumped 44.3% to €226.7 billion, driven by a surge in energy purchases. Exports increased at a softer 18.9% to €199.5 billion. Considering the EU, imports were up 52.4%, with energy imports soaring 133%. The energy gap more than doubled to €37.9 billion from €15 billion in January of 2021. Purchases increased mostly from Norway (160%), the UK (112.3%) and Russia (90%). Exports were up 19.6%, with sales rising the most to both the US (25.5%) and the UK (25.9%) but falling to China (-0.6%).
2022-03-18