Euro area international trade in goods surplus €25.6 bn

May 20, 2023

Euro area

The first estimate for euro area exports of goods to the rest of the world in March 2023 was €269.2 billion, an increase of 7.5% compared with March 2022 (€250.5 bn). Imports from the rest of the world stood at €243.6 bn, a fall of 10.0% compared with March 2022 (€270.6 bn). As a result, the euro area recorded a €25.6 bn surplus in trade in goods with the rest of the world in March 2023, compared with a deficit of €20 bn in March 2022. Intraeuro area trade rose to €246.4 bn in March 2023, up by 0.6% compared with March 2022.

In January to March 2023, euro area exports of goods to the rest of the world rose to €724.5 bn (an increase of  8.5% compared with January-March 2022), while imports remained almost unchanged at €727.1 bn with respect to the same period in the previous year. As a result the euro area recorded a deficit of €-2.6 bn, compared with -€59.7 bn in January-March 2022. Intra-euro area trade rose to €698.3 bn in January-March 2023, up by 6.9% compared with January-March 2022.

European Union

The first estimate for extra-EU exports of goods in March 2023 was €242.2 billion, up by 9.4% compared with March 2022 (€221.4 bn). Imports from the rest of the world stood at €217.5 bn, down by 13.2% compared with March 2022 (€250.5 bn). As a result, the EU recorded a €24.7 bn surplus in trade in goods with the rest of the world in March 2023, compared with a deficit of €29.1 bn in March 2022. Intra-EU trade rose to €382.5 bn in March 2023, +1.7% compared with March 2022.

In January to March 2023, extra-EU exports of goods rose to €649.0 bn (an increase of 9.4% compared with January-March 2022), and imports fell to €659.1 bn (2.7% compared with January-March 2022). As a result, the EU recorded a deficit of €10.1 bn, compared with -€84.1 bn in January-March 2022. Intra-EU trade rose to €1 079.4 bn in January-March 2023, +7.4% compared with January-March 2022.

Source: Eurostat
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