Euro area international trade in goods deficit €26.5 bn in Oct 2022

19 Dec '22

3 min read

Pic: ilolab/Shutterstock

The first estimate for euro area goods exports to the rest of the world in October this year was €252.8 billion, an increase of 18 per cent compared with €214.3 billion in October last year, according to Eurostat. Imports from the rest of the world stood at €279.3 billion during the month, a rise of 30.7 per cent compared with €213.7 billion in October 2021.

As a result, the euro area recorded a €26.5 billion deficit in trade in goods with the rest of the world in October compared with a surplus of €0.6 billion in October last year.

Intra-euro area trade rose to €234.7 billion in October, up by 17.9 per cent compared with the same month last year.

In January to October 2022, euro area exports of goods to the rest of the world rose to €2,374.1 billion—an increase of 19.1 per cent compared with the same period last year; imports rose to €2,665.9 billion—an increase of 43 per cent compared with January-October 2021.

As a result, the euro area recorded a deficit of €291.8 billion during January-October this year compared with a surplus of €129.3 billion during the same period last year.

Intra-euro area trade rose to €2,263.2 billion during the period—up by 26.3 per cent compared with the same period last year.

The first estimate for extra-European Union (EU) exports of goods in October this year was €225.2 billion, up by 18 per cent compared with €190.9 billion in the same month last year.

EU imports from the rest of the world in October this year stood at €263.4 billion, up by 33.1 per cent compared with €197.9 billion in the same month last year.

As a result, the EU recorded a €38.2 billion deficit in trade in goods with the rest of the world in October this year. Intra-EU trade rose to €366.6 billion in October this year, an 18.2 per cent hike compared with the same month last year.

In January to October this year, extra-EU exports of goods rose to €2,115.7 billion—an increase of 18.8 per cent compared with the same duration in 2021, and imports rose to €2,511.1 billion—an increase of 47.7 per cent compared with the same period last year.

As a result, the EU recorded a deficit of €395.3 billion during the period compared with a surplus of €80.1 billion during the same period last year.

Intra-EU trade rose to €3,507.4 billion during the period this year, a 24.5 per cent rise compared with the same period last year.

ALCHEMPro News Desk (DS)

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