The EU’s trade balance in goods recorded a surplus of 38 billion euros in 2023, after a deficit of 436 billion euros last year, mainly due to the increase in the value of imports of goods.energy, the European statistics agency Eurostat reported on Wednesday . . In 2023, the trade balance benefited from the sharp decline in the value of imports from outside the EU (-16% compared to 2022), mainly due to the decline in imports of energy products (-34%) and industrial goods (-21 %). %), Eurostat reports in a press release.
In addition, the EU’s internal market continued to play a central role in trade in goods of the Union’s Member States, the agency notes, specifying that the highest share of intra-EU imports was recorded in Luxembourg (90% of the total import). ), while the highest share of intra-EU exports was recorded in the Czech Republic (82% of total exports).
In contrast, the lowest share of intra-EU imports was recorded in Ireland (39% of total imports), mainly due to the fact that the main trading partners are the United States and the United Kingdom. The Netherlands is the country that mainly imports from outside the EU and mainly exports within the EU, and continues to play the role of the main goods import hub for the EU, the press release highlights.
Cyprus, in turn, is the country that mainly exports outside the EU, while it mainly imports from the Community bloc. This is mainly due to its geographical location, which facilitates trade with the Middle East, we note.
Sami Nemli with Agency / ECO Inspirations
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