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.

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Euro Area Balance of Trade


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
-1487.60 3276.40 30614.30 -16418.80 1999 - 2021 EUR Million Monthly
NSA

Calendar GMT Actual Previous Consensus TEForecast
2021-12-16 10:00 AM Oct €3.6B €7.3B €7.6B €14.2B
2022-01-14 10:00 AM Nov €-1.5B €3.3B €11.5B
2022-02-15 10:00 AM Dec € 32B


Related Last Previous Unit Reference
Balance of Trade -1487.60 3276.40 EUR Million Nov/21
Current Account to GDP 3.00 3.10 percent of GDP Dec/20
Imports 226572.70 210618.50 EUR Million Nov/21
Exports 225085.10 213894.80 EUR Million Nov/21


News Stream
Eurozone Posts First Trade Deficit in Nearly 8 Years
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%).
2022-01-14
Eurozone Trade Surplus Falls Sharply as Imports Hit Record
The Eurozone trade surplus narrowed sharply to EUR 3.6 billion in October 2021 from EUR 29.8 billion in the same period last year and well below market expectations of EUR 7.6 billion, amid strong global demand, rising energy prices and the euro's weakness. Imports jumped 24.1 percent to an all-time high, while exports rose at a softer 7.3 percent also to near record-high levels.
2021-12-16
Eurozone Trade Surplus Narrows Less than Expected
The Eurozone trade surplus narrowed to EUR 7.3 billion in September of 2021 from EUR 24.1 billion in the corresponding month of the previous year, above market expectations of EUR 6.5 billion. Exports rose 10% from a year earlier to EUR 209.3 billion while imports rose at a faster 21.6% to EUR 202 billion as costs of importing energy soared. Considering the first nine months of the year, the euro zone’s trade surplus shrank to EUR 131.9 billion from EUR 151.2 billion a year earlier as exports grew 14.7% while imports advanced 17.7%. The monthly report showed that the EU’s trade deficit with Russia, the euro zone's main supplier of gas and oil widened to almost EUR 43 billion in the first 9 months from EUR 13 billion last year. The EU's trade balance with Norway, another large energy supplier, swung to a 4.4 billion gap from a 4.1 billion surplus a year earlier. The EU’s trade surplus with the UK rose to EUR 105.3 billion from EUR 77 billion, with exports up 4.5% and imports down 16%.
2021-11-15