Economy

EU goods trade deficit at $45.7B in April

Rising energy bills primary factor in trade gap, according to EU statistical office

Aysu Biçer   | 15.06.2022
EU goods trade deficit at $45.7B in April

ANKARA

The EU’s goods trade balance saw a deficit of €43.6 billion ($45.7 billion) this April, compared with a surplus of €12.6 billion ($13.2 billion) in April 2021, the EU’s statistical office reported on Wednesday.

“Extra-EU exports of goods in April 2022 was €198.5 billion, up by 10.8% compared with April 2021 (€179.1 billion),” read a Eurostat report.

Imports from the rest of the world stood at €242.1 billion, up by 45.4% compared with April 2021’s €166.5 billion.

A majority of member countries posted an increase in extra-EU exports, except Estonia (minus 11.3%), Slovakia (minus 6.9%), Czech Republic (minus 6.0%), Lithuania (minus 2.5%), while Croatia was nearly stable at minus 0.2%.

The highest increases, on the other hand, were seen in Ireland (48.6%) and Slovenia (38.8%).

With regard to extra-EU imports, all member states registered an increase compared with April 2021, the highest being Lithuania (140.4%), Croatia (82.5%), and Finland (72.0%).

“In the first four months of 2022, the highest increases were seen in the imports and, with a lower value, exports of energy, leading to a significant increase in the EU trade deficit in energy (-€183.6 billion in January-April 2022 compared with -€66.8 billion in January-April 2021),” read the report.

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