- Prior -€27.2 billion
The euro area trade deficit carries over to February as the surge in energy prices led to a sharp increase in the value of energy imports. For some context, payment for imports jumped by 38.8% y/y, while revenues from exports grew by only 17.0% y/y.
Looking back historically, it is seldom to see the euro area trade balance in deficit territory but this was the fourth consecutive month although it is less than the record €27.2 billion deficit in January.
