The negative foreign trade balance of the eurozone (with countries that are not members of the eurozone) in March 2022 amounted to 16.4 billion euros compared to a deficit of 7.6 billion euros in February, according to Eurostat data. In March last year, the eurozone’s foreign trade surplus amounted to 22.5 billion euros.

In January 2022, the eurozone recorded a record trade deficit amid a sharp jump in prices for imported energy.

Exports from the 19 eurozone countries to non-eurozone member states totaled €250.1 billion the month before last, up 14% from March 2021. Imports rose 35.4% to €266.5 billion.

In Q1 2022, exports increased by 16.6% to €666.7 billion compared to January-March 2021, while imports increased by 39.7% to €719.1 billion. The foreign trade deficit amounted to 52.4 billion euros against a surplus of 56.7 billion euros a year earlier.

In March, the EU 27 countries had a trade deficit with non-EU countries of €27.7 billion, compared with a surplus of €18.7 billion in March 2021.