Eurozone Posts First Trade Deficit in Seven Years

Source: Eurostat

The Eurozone balance of trade reversed into a deficit in November 2021, with imports outpacing exports during the month. EZU is up 0.06% premarket.

• The Eurozone recorded a €1.5-billion trade deficit in November, compared with a €25-billion surplus the same month in 2020. 
• This is the first trade deficit recorded in seven years, since the deficit recorded in January 2014.
• Exports to the rest of the world jumped by 14.4% to €225.1 billion from the €196.7 billion recorded the previous year.
• Imports jumped by 32.0% to €226.6 billion from November 2020’s €171.7 billion.
• Intra-euro trade for the month climbed by 22.1% to €204.3 billion from the same month in 2020.
• The latest figures brought the year-to-date surplus of €133.5 billion, wider than the €205.6 billion recorded in the past year.
• Year-to-date exports increased by 14% to €2.215 trillion, while imports jumped by 19.9% to €2.081 trillion.