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The eurozone and the European Union posted a trade deficit in March, as imports surged on the back of higher energy products brought into the areas during the month.
Source: Eurostat
EZU is up 0.03%, while VGK is flat premarket.
The euro area trade deficit stood at €16.4 billion, marking a reversal of the €22.5-billion surplus recorded the same month in 2021. Exports increased by 14.0% to €250.1 billion, while imports surged by 35.4% to €266.5 billion.
The European Union recorded a trade deficit of €27.7 billion, versus the €18.7-billion surplus recorded in March last year. Exports climbed by 12.8% to €220.5 billion, while imports soared by 40.4% to €248.2 billion.
The first-quarter eurozone trade deficit stood at €52.4 billion versus the €56.7-billion surplus in 2021, while the European Union trade deficit clocked in at €81.5 billion versus the €48.5-billion trade surplus in the first three months in 2021.
The biggest deficit for the month was recorded in France with €40.0 billion, while the biggest surplus was recorded in Germany with €22.9 billion.
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