The eurozone ran a trade deficit for the seventh consecutive month as higher energy prices continue to weigh disproportionately on import costs.
In particular, according to Eurostat, the eurozone’s trade deficit stood at 26.3 billion euros in May, from a surplus of 12 billion euros a year earlier.
Imports increased at a rate of 52% on an annual basis, reaching 274.8 billion euros, while exports also showed an increase, but at a slower rate, by 28.9% to 248.5 billion euros.
Seasonally adjusted, the trade deficit stood at 26 billion euros in May, down from 31.8 billion in April.
On a monthly basis, eurozone exports rose by a seasonally adjusted 4.8%, while imports rose by 2%.
It is worth noting that according to EU figures, the trade deficit for energy widened to €234.3 billion in the first five months of the year, compared to a deficit of €85.7 billion in the same period last year. a size that highlights costs from the war in Ukraine.
Source: Capital
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