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Eurostat. Euro area international trade in goods deficit €30.6 bn

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The first estimate for euro area exports of goods to the rest of the world in January 2023 was €222.9 billion, an increase of 11.0% compared with January 2022 (€200.8 bn). Imports from the rest of the world stood at €253.5 bn, a rise of 9.7% compared with January 2022 (€231.1 bn). As a result, the euro area recorded a €30.6 bn deficit

in trade in goods with the rest of the world in January 2023, compared with -€30.2 bn in January 2022. Intra-euro area trade rose to €223.8 bn in January 2023, up by 11.6% compared with January 2022.

In January to December 2022, euro area exports of goods to the rest of the world rose to €2 868.4 bn (an increase of 18.0% compared with January-December 2021), and imports rose to €3 201.9 bn (an increase of 37.7% compared with January-December 2021). As a result the euro area recorded a deficit of €333.5 bn, compared with a surplus of €105.3 bn in January-December 2021. Intra-euro area trade rose to €2 764.3 bn in JanuaryDecember 2022, up by 24.7% compared with January-December 2021.

European Union.      The first estimate for extra-EU exports of goods in January 2023 was €198.6 billion, up by 10.6% compared with January 2022 (€179.6 bn). Imports from the rest of the world stood at €233.3 bn, up by 7.0% compared with January 2022 (€218.1 bn). As a result, the EU recorded a €34.6 bn deficit in trade in goods with the rest of the world in January 2023, compared with -€38.6 bn in January 2022. Intra-EU trade rose to €345.7 bn in January 2023, +12.1% compared with January 2022.

In January to December 2022, extra-EU exports of goods rose to €2 572.3 bn (an increase of 17.9% compared with January-December 2021), and imports rose to €3 004.4 bn (an increase of 41.3% compared with JanuaryDecember 2021). As a result, the EU recorded a deficit of €432.1 bn, compared with a surplus of €55.0 bn in January-December 2021. Intra-EU trade rose to €4 227.3 bn in January-December 2022, +22.8% compared with January-December 2021.

Annual comparison by Member State.     In January 2023, compared with January 2022, all the Member States registered increases in extra-EU exports except Estonia (-18.1%), Ireland (-11.9%), Malta (-6.1%) and Romania (-1.3%). The highest increases were registered in Slovenia (+63.2%) and Cyprus (61.8%).

With regard to the extra-EU imports, the picture is slightly different. In January 2023 compared to January 2022, the majority of Members States registered increases, while nine Member States registered decreases in extra-EU imports. The highest increases were observed in Cyprus (+439.9%), Malta (+84.6%) and Slovenia (+43.3), while the highest decreases were observed in Estonia (-29.5), Luxembourg (-20.4) and Latvia (-19.7).