July 17, 2023
Euro area
The first estimate for euro area exports of goods to the rest of the world in May 2023 was €241.9 billion, a decrease of 2.3% compared with May 2022 (€247.6 bn). Imports from the rest of the world stood at €242.2 bn, a fall of 12.8% compared with May 2022 (€277.9 bn). As a result, the euro area recorded a €0.3 bn deficit in trade in goods with the rest of the world in May 2023, compared with €-30.3 bn in May 2022. Intra-euro area trade fell to €226.3 bn in May 2023, down by 5.7% compared with May 2022.
In January to May 2023, euro area exports of goods to the rest of the world rose to €1 181.9 bn (an increase of 3.7% compared with January-May 2022), and imports fell to €1 199.5 bn (a decrease of 5.1% compared with January-May 2022). As a result the euro area recorded a deficit of €-17.6 bn, compared with €-124.7 bn in January-May 2022. Intra-euro area trade rose to €1 137.7 bn in January-May 2023, up by 2.2% compared with January-May 2022.
European Union
The first estimate for extra-EU exports of goods in May 2023 was €216.9 billion, down by 1.9% compared with May 2022 (€221.2 bn). Imports from the rest of the world stood at €218.2 bn, down by 15.6% compared with May 2022 (€258.6 bn). As a result, the EU recorded a €1.3 bn deficit in trade in goods with the rest of the world in May 2023, compared with €-37.4 bn in May 2022. Intra-EU trade fell to €352.2 bn in May 2023, -3.8% compared with May 2022
In January to May 2023, extra-EU exports of goods rose to €1 058.9 bn (an increase of 4.5% compared with January-May 2022), and imports fell to €1 087.4 bn (a decrease of 7.8% compared with January-May 2022). As a result, the EU recorded a deficit of €28.5 bn, compared with €-166.4 bn in January-May 2022. Intra-EU trade rose to €1 761.0 bn in January-May 2023, +3.2% compared with January-May 2022.
Source: Eurostat
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.
