The first estimate for euro area export of goods to the rest of the world in February 2022 was €215.8 billion, an increase of 17 per cent compared with February 2021 (€184.5 billion). Imports from the rest of the world stood at €223.4 billion, a rise of 38.8 per cent compared with February 2021 (€161.0 billion), driven again, in particular, by a further increase in energy imports.
As a result, the euro area recorded a €7.6 billion deficit in trade in goods with the rest of the world in February 2022, compared with a surplus of €23.6 billion in February 2021. Intra-euro area trade rose to €202.5 billion in February 2022, up by 25.6 per cent compared with February 2021, according to a press release from Eurostat, the European Union’s (EU) statistics agency.
In January to February 2022, euro area exports of goods to the rest of the world rose to €416.6 billion—an increase of 18.3 per cent compared with January-February 2021—and imports rose to €451.5 billion—an increase of 41.9 per cent compared with January-February 2021.
As a result the euro area recorded a deficit of €34.9 billion, compared with a surplus of €34.2 billion in January-February 2021. Intra-euro area trade rose to €399.4 billion in January-February 2022, up by 26.4 per cent compared with January-February 2021.
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