The already high trade deficit in the eurozone widened again sharply in April. Compared to the previous month, the seasonally adjusted deficit rose by 13.9 billion to 31.7 billion euros, the statistics office Eurostat said on Wednesday in Luxembourg. This is by far the highest deficit in foreign trade since the currency area came into existence. The trade balance had already posted a record-high deficit in the previous month.
In April, exports rose by an adjusted 1.5 percent, according to Eurostat. However, imports increased much more clearly by 7.1 percent. Eurostat points to a sharp increase in energy imports – a consequence of the sharp rise in energy prices due to the Ukraine war. The balance of trade is the difference between exports and imports. As a rule, the euro zone has a surplus in foreign trade. (dpa)
