Economic Buzz: Eurozone Trade Deficit Widens In June

16 Aug 2022 , 03:17 PM

The euro area trade deficit increased at the end of the second quarter, as exports fell amid an increase in imports, data from Eurostat showed. The seasonally adjusted trade deficit rose to EUR 30.8 billion in June from EUR 27.2 billion in May. Exports dropped marginally by 0.1 percent month-on-month in June, while imports increased 1.3 percent. On an unadjusted basis, the trade balance showed a deficit of EUR 24.6 billion compared to a surplus of EUR 17.2 billion in the previous year. Exports logged a double-digit annual growth of 20.1 percent in June. At the same time, imports grew at a much faster pace of 43.5 percent. During the first half of this year, the trade deficit was EUR 140.4 billion versus a surplus of EUR 100.6 billion in the corresponding period a year ago.Powered by Commodity Insights