Goods trade gap rises to €12.7B in single currency zone, led by energy
Eurozone trade balance saw an €11.7 billion ($12.7 billion) deficit in November 2022, widened from €3.9 billion a year ago, led by energy, the EU’s statistical office said on Friday.
The figure was well below than market forecast of a €21.1 billion gap for the month.
Imports surged 20.2% year-on-year to €276.3 billion in November while exports hiked 17.2% to €264.7 billion.
The EU saw a trade deficit of €20.7 billion in the month, up from €10.7 billion in November 2021.
EU’s exports to the rest of the world climbed 17.7% on annual basis to €237.3 billion and its imports stood at €258 billion, rising 21.5%.
In January-November, the goods trade deficit amounted to €305.1 billion,worsened from a surplus of €125 billion a year earlier.
Trade gap in the EU reached $418.4 billion in the first eleven months of last year.
The EU’s trade deficit grew sharply with Russia, reaching €143.3 billion in January-November 2022 from €63.8 billion in the same period previous year.
The deficit with China also jumped to €370 billion from €219.2 billion in the same period.