(Eurostat) The trade deficit in the euro area was 4.6 billion euros in December 2021, a downturn from a surplus of 28.3 billion euros in the prior year.
The surge in the deficits reflected an annual 36.7% rise in imports which hit 223.3 billion euros, compared to a slower 14.1% rise in exports to 218.7 billion euros in December.
Intra-euro area trade improved by an annual 27.8% to 191.9 billion euros in December.
In the January to December 2021 period, the euro area posted a trade surplus of 128.4 billion euros, down from a surplus of 233.9 billion euros in the prior year. Intra-euro area trade improved by 20.7% in the period.
In the EU, trade deficits were higher at 10.0 billion euros, compared to 29.3 billion euros surplus in the prior year. Imports rose by 41.8% to 208.2 billion euros, while exports increased by 12.5% to 198.2 billion euros.
Intra-EU trade improved by 25.3% in December from the prior year to 297.3 billion euros.
In the January to December 2021 period, the EU posted a trade surplus of 68.9 billion euros, down from a surplus of 215.8 billion euros in the prior year. Intra-EU trade improved by 19.9% during the prior.
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