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Eurostat: the EU registered a trade balance deficit



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The European Union registered a trade balance deficit of 42.3 billion euros in July, compared to a surplus of 15.6 billion euros in the similar period of 2021, mainly due to the increase in energy imports, according to the data published on Thursday by European Statistical Office (Eurostat), quoted by Agerpres.

Thus, EU exports of goods stood at 211.6 billion euros, up 12.8% compared to July 2021, while EU imports rose by 47.6%, up to 253.8 billion Of euro.

In the January-July 2021 period, EU exports of goods rose to 1,449.7 billion euros (an increase of 17.2% compared to the same period in 2021), and imports rose to 1,693.9 billion euros (a advance of 48.9% compared to the period January-July 2021). As a result, the EU recorded a surplus in the January-July 2022 period of €244.2 billion, compared to a surplus of €98.8 billion in the same period in 2021.

The euro zone recorded a trade balance deficit of 34 billion euros in July, compared to a surplus of 20.7 billion euros in the similar period of 2021, mainly following the increase in energy imports.

In the period January-July 2022, exports of goods of the euro area rose to 1,628.5 billion euros (an increase of 17.9% compared to the same period in 2021), and imports rose to 1,805.9 billion euros ( an advance of 43.4% compared to the period January-July 2021). As a result, the euro zone recorded a deficit in the January-July 2022 period of 177.4 billion euros, compared to a surplus of 121.3 billion euros in the similar period in 2021.

Between January and July 2022, China and the USA were the main trading partners of the EU. EU exports to China rose and the US rose by 0.6% and 27.2% respectively, and EU imports from China and the US rose by 42.4% and 52.8% respectively. Also, EU exports to Russia decreased by 2433%, while EU imports from Russia increased by 69.9%.

As for Romania, Eurostat data show that between January and July 2022, exports increased by 25%, up to 52.7 billion euros, while imports rose by 29%, to 71.4 billion euros. Under these conditions, Romania’s trade balance deficit stood at 18.8 billion euros, compared to 13.3 billion euros in the January-July 2021 period.