Economic Buzz: Eurozone Records Trade Deficit Widens Further

15 Sep 2022 , 05:00 PM

The euro area trade deficit rose in July to the highest level since the series began in 1999, data released by Eurostat showed on Thursday. The trade shortfall widened to a record EUR 40.3 billion in July from EUR 32.2 billion in June. Exports declined by adjusted 1.7 percent from June, while imports grew 1.5 percent. On an unadjusted basis, the trade balance showed a deficit of EUR 34.0 billion compared to a surplus of EUR 20.7 billion in the same period last year. Data showed that exports increased 13.3 percent annually, while imports saw a annual growth of increase of 44.0 percent. Powered by Commodity Insights