EU records USD34.4B goods trade shortage in June| MENAFN.COM

Wednesday, 05 October 2022 10:29 GMT

EU records USD34.4B goods trade shortage in June


(MENAFN) The goods trade shortage of the EU reached €34 billion (USD34.4 billion) two months ago, failing from a surplus of €14 billion (USD14.2 billion) in June in 2021, as reported by the EU's statistical office on Tuesday.

Shipments of goods to the rest of the world jumped 19.4 percent to €224.9 billion (USD225.6 billion), whereas imports rose 48.5 percent to €258.9 billion (USD259.8 billion) during this period.

Intra-euro area trade surged to €366.6 billion (USD367.9 billion), increasing 23 percent from 2021.

"In the first six months of 2022, the highest increases were recorded in the imports and, with a lower value, exports of energy, leading to a significant increase in the EU trade deficit in energy," it also showed, pointing out that the shortage in January-June was negative €290.8 billion, in comparison with negative €105.6 billion in the same months in 2021.

The US was the main market for EU exporters in the first half of 2022, with an overall capacity of €247 billion, surging 29.1 percent from the same span of time last year.

MENAFN16082022000045014228ID1104703909


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.