The European Union recorded a trade deficit of €27.7 billion in March of 2022, compared to a €18.7 billion surplus a year earlier, as imports soared 40.4% to €248.2 billion and exports increased at a slower 12.8% to e195.5 billion. The European Union's trade deficit with Russia more than quadrupled to €45.2 billion in the first quarter and the trade gap with China, the biggest trading partner, almost doubled to €91.9 billion. source: EUROSTAT
Balance of Trade in European Union averaged 3814.20 EUR Million from 1999 until 2022, reaching an all time high of 29531.20 EUR Million in December of 2016 and a record low of -36880.50 EUR Million in January of 2022. This page provides the latest reported value for - European Union Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. European Union Balance of Trade - values, historical data and charts - was last updated on May of 2022.
Balance of Trade in European Union is expected to be 13100.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the European Union Balance of Trade is projected to trend around 15600.00 EUR Million in 2023 and 13400.00 EUR Million in 2024, according to our econometric models.