The Eurozone's deficit in international trade in goods fell to €26.3 billion in May, according to Eurostat's first estimate on Friday. The reading marks an improvement from April's deficit of €32.4 billion, APA reports citing Tele Trader.
In the same month, the entire European Union (EU27) registered a trade deficit of €35 billion.
Exports of goods from the Eurozone to the rest of the world stood at €248.5 billion in May 2022, up 28.9% year-on-year, while imports soared 52% on a yearly basis to reach €274.8 billion. Intra-Eurozone trade grew 33% from May 2021 to €231.6 billion in the same month in 2022.
EU27 exports surged 28.3% annually to €221.2 billion in May 2022, while imports came in at €256.2 billion in the same month, skyrocketing 55.7% compared to May 2021. Intra-EU trade amounted to €359.2 billion in May 2022, 30.7% higher compared to the corresponding month the previous year.