European Union recorded a trade deficit of 20722.60 EUR Million in November of 2022. source: EUROSTAT

Balance of Trade in European Union averaged 2508.73 EUR Million from 1999 until 2022, reaching an all time high of 29531.20 EUR Million in December of 2016 and a record low of -65613.90 EUR Million in August of 2022. This page provides the latest reported value for - European Union Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. European Union Balance of Trade - values, historical data and charts - was last updated on February of 2023.

Balance of Trade in European Union is expected to be 15500.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the European Union Balance of Trade is projected to trend around 13400.00 EUR Million in 2024, according to our econometric models.

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European Union Balance of Trade

Related Last Previous Unit Reference
Current Account to GDP 2.50 2.30 percent of GDP Dec 2021
Imports 257986.00 263943.70 EUR Million Nov 2022
Exports 237263.40 225307.40 EUR Million Nov 2022
Balance of Trade -20722.60 -38636.40 EUR Million Nov 2022

European Union Balance of Trade
The European Union is one of the world’s biggest players in global trade. It is the second largest exporter and importer of goods in the world, as extra-EU trade accounts for about 17 percent of global exports and about 15 percent of global imports. China exports more goods than the EU, while the United States imports more goods. The EU's main exports are manufactured goods such as machinery & vehicles and chemicals, as well as food & drink. Meanwhile, the bloc is a net importer of energy and raw materials. Its main imports also include machinery & vehicles and chemicals. Germany, Italy, France and the Netherlands account for the largest share of total trade. China is the most important trading partner of the European Union and accounts for about 16 percent of all EU trade in goods, followed by the United States, the United Kingdom, Switzerland and Russia.
Actual Previous Highest Lowest Dates Unit Frequency
-20722.60 -38636.40 29531.20 -65613.90 1999 - 2022 EUR Million Monthly