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.