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.


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