The euro zone's trade deficit | 16 June 2022

16 June 2022, EUR/USD

The euro zone's trade deficit

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The European Union's statistics office Eurostat said the 19 countries sharing the euro recorded a trade deficit, unadjusted for seasonal swings, of 32.4 billion euros in April compared with a 16.4-billion-euro deficit in March. In April 2021 there was a surplus of 14.9 billion euros. The unadjusted value of imports in April rocketed by 39.8% year-on-year, Eurostat said, while the value of exports rose only 15.7%. The EU's trade deficit with Russia - its main energy supplier - more than quadrupled to 62.6 billion euros in the first quarter from 14.7 billion in the same period of 2021. The change in the value of EU energy imports was the most spectacular, with the deficit in energy trade almost tripling to 183.6 billion euros in the first four months of the year compared to the same period in 2021. The trade gap with China, Europe's biggest trading partner, almost doubled to 122 billion euros in the January-April period from 65.8 billion a year earlier.

Investment idea: sell 1.0422 and take profit 1.0350.

David Johnson
Analyst of «FreshForex» company
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