- Prior -€11.7 billion
The euro area trade deficit narrowed considerably in May, with the seasonally adjusted number also seen at -€0.9 billion. On the latter, it was helped by exports moving up by 2.9% on the month while imports declined by 0.1% on the month. The improvement in energy price developments have been a big factor as the January to May 2022 trade balance totaled to -€124.7 billion but in January to May 2023, that total is at -€17.6 billion.
