The first estimate for euro area exports of goods to the rest of the world in May 2023 was €241.9 billion, a decrease of 2.3% compared with May 2022 (€247.6 bn). Imports from the rest of the world stood at €242.2 bn, a fall of 12.8% compared with May 2022 (€277.9 bn). As a result, the euro area recorded a €0.3 bn deficit in trade in goods with the rest of the world in May 2023, compared with €-30.3 bn in May 2022. Intra-euro area trade fell to €226.3 bn in May 2023, down by 5.7% compared with May 2022, reads the latest publication of Eurostat, the Statistical Office of the European Union.
In January to May 2023, euro area exports of goods to the rest of the world rose to €1 181.9 bn (an increase of 3.7% compared with January-May 2022), and imports fell to €1 199.5 bn (a decrease of 5.1% compared with January-May 2022). As a result the euro area recorded a deficit of €-17.6 bn, compared with €-124.7 bn in January-May 2022. Intra-euro area trade rose to €1 137.7 bn in January-May 2023, up by 2.2% compared with January-May 2022.
European Union
The first estimate for extra-EU exports of goods in May 2023 was €216.9 billion, down by 1.9% compared with May 2022 (€221.2 bn). Imports from the rest of the world stood at €218.2 bn, down by 15.6% compared with May 2022 (€258.6 bn). As a result, the EU recorded a €1.3 bn deficit in trade in goods with the rest of the world in May 2023, compared with €-37.4 bn in May 2022. Intra-EU trade fell to €352.2 bn in May 2023, -3.8% compared with May 2022.
In January to May 2023, extra-EU exports of goods rose to €1 058.9 bn (an increase of 4.5% compared with January-May 2022), and imports fell to €1 087.4 bn (a decrease of 7.8% compared with January-May 2022). As a result, the EU recorded a deficit of €28.5 bn, compared with €-166.4 bn in January-May 2022. Intra-EU trade rose to €1 761.0 bn in January-May 2023, +3.2% compared with January-May 2022.
