Brussels-Sana
An official report issued by the European Statistical Office (Eurostat) confirmed that the European Union recorded the largest trade deficit since what happened between 1999 and 2002.
According to the report published by the office through its account on the social networking site Twitter, the goods trade deficit in the euro area recorded 40.3 billion euros last July, while the total trade deficit amounted to 49 billion euros, pointing out that these are the largest deficits recorded since the beginning of the time series 1999 and 2002, respectively. .
The report indicated that the first estimate of the euro area's exports of goods to the rest of the world in July 2022 was 235.5 billion euros, while imports from the rest of the world amounted to 269.5 billion euros, an increase of 44 percent compared to July 2021, which amounted to 187.1 billion euros. As a result, the euro zone recorded a deficit of 34 1 billion euros in goods trade with the rest of the world last July.
The euro area in general is witnessing escalating economic crises against the background of the effects of the Corona epidemic, and then the sanctions imposed by European countries on Russia following its special military operation to protect Donbass, which negatively affected European economies.
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