- Prior €23.0 billion; revised to €18.5 billion
Here are some details which might give a better picture of the euro area trade situation, relative to last year when energy prices were much higher:
- Jan – Jul 2023 exports €1,663.0 billion (+2.3% vs Jan – Jul 2022)
- Jan – Jul 2023 imports €1,660.4 billion (-8.4% vs Jan – Jul 2022)
- Jan – Jul 2023 trade balance €2.7 billion (vs -€188.1 billion in Jan – Jul 2022)
In simpler terms, energy imports have declined considerably this year and that has resulted in a more positive trade balance overall so far compared to a year ago.