Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessEUROZONE DATA
MNI (London)
EUROZONE AUG TRADE BALANCE SA EUR -47.3 BLN; JUL -40.5r BLN
- The euro area's trade deficit grew by E6.8bln to -47.3bln in August (seasonally adjusted), implying the tenth consecutive month of deficit.
- Exports expanded by 3.5% m/m, yet this was outpaced by the 5.5% m/m jump in imports underpinned by soaring energy costs. Imports were recorded at a hot 53.6% higher than in August 2021.
- The ytd trade deficit with Russia had over tripled in August as gas and oil prices jumped and exports to Russia were cut. Imports from Norway jumped due to alternative gas supply and China imports expanded substantially, boosted by the base effects of 2021 lockdowns.
- The soaring cost of imports -- particularly energy -- continues to weigh on EZ trade balances, underlining the problem the ECB has as pipeline inflation is still embedded in the system.
Why Subscribe to
MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok