The first estimate for euro area exports of goods to the rest of the world in August 2023 was €221.6 billion, a decrease of 3.9% compared with August 2022 (€230.6 bn). Imports from the rest of the world stood at €214.9 bn, a fall of 24.6% compared with August 2022 (€285.0 bn). As a result, the euro area recorded a €6.7 bn surplus in trade in goods with the rest of the world in August 2023, compared with a deficit of €54.4 bn in August 2022. Intraeuro area trade fell to €189.3 bn in August 2023, down by 13.2% compared with August 2022, Eurostat, the Statistics Office of the European Union said today.
In January to August 2023, euro area exports of goods to the rest of the world rose to €1 883.9 bn (an increase of 1.5% compared with January-August 2022), and imports fell to €1 875.8 bn (a decrease of 10.6% compared with January-August 2022). As a result, the euro area recorded a surplus of €8.1 bn, compared with €-242.9 bn in January-August 2022. Intra-euro area trade fell to €1 772.3 bn in January-August 2023, down by 1.8% compared with January-August 2022.
European Union
The first estimate for extra-EU exports of goods in August 2023 was €198.5 billion, down by 4.1% compared with August 2022 (€206.9 bn). Imports from the rest of the world stood at €197.1 bn, down by 27.8% compared with August 2022 (€272.9 bn). As a result, the EU recorded a €1.4 bn surplus in trade in goods with the rest of the world in August 2023, compared with a deficit of €66.0 bn in August 2022. Intra-EU trade fell to €302.1 bn in August 2023, -10.0% compared with August 2022.
In January to August 2023, extra-EU exports of goods rose to €1 690.7 bn (an increase of 2.0% compared with January-August 2022), and imports fell to €1 700.6 bn (a decrease of 13.6% compared with January-August 2022). As a result, the EU recorded a deficit of €9.8 bn, compared with €-311.4 bn in January-August 2022. Intra-EU trade fell to €2 749.4 bn in January-August 2023, down by 0.3% compared with January-August 2022.
Annual comparison by Member State
In August 2023, compared with August 2022, all the Member States registered decreases in exports except five. The highest decreases were registered in Greece (-24.5%), Estonia (-23.1%), Bulgaria (-22.7%), Latvia (-22.3%), Lithuania (-21.8%) and Belgium (-21.3%). The highest increase was registered in Cyprus (+55.2%).
With regard to the extra-EU imports, the picture is similar. In August 2023 compared to August 2022, the majority of Member States registered decreases, while three Member States registered increases in imports. The highest decreases were observed in Belgium (-28.0%), Lithuania (-27.9%), Finland (-25.7%), Croatia (-24.6%), Latvia (-22.8%), Ireland (-21.6%) and Italy (-20.9%). The highest increases were observed in Malta (16.5%) and Cyprus (+12.4%).
