Eurozone posts record high trade deficit in August

ANKARA

Eurozone trade balance saw a record high deficit of €50.9 billion ($49.6 billion) in August due to soaring costs of imported energy, the EU's statistical office said on Friday.

The trade gap widened from a €33.9 billion in July, while it worsened from a trade surplus of €2.8 billion in August 2021, Eurostat data showed.

Eurozone's exports of goods to the rest of the world jumped 24% from a year ago to €231.5 billion in August, while imports from the rest of the world surged 53.6% to €282.1 billion.

Intra-euro area trade rose to €210.5 billion in August, up by 34.8% from the same month last year.

The EU27's trade deficit grew to €64.7 billion in August from €7.1 billion a year ago.

The first estimate for extra-EU exports of goods in August was €207.1 billion, rising by 24.2% year-on-year, while imports from the rest of the world stood at €271.8 billion, soaring by 56.4%.

In January-August, eurozone registered a trade deficit of €228.8 billion, compared with a surplus of €124 billion last year.