Eurozone trade deficit widens to €7.8 billion in May, Eurostat says

BRUSSELS — The Eurozone's goods trade deficit widened sharply to €7.8 billion in May from €1.2 billion in April, according to data released Thursday by Eurostat. A year earlier, in May 2024, the bloc had recorded a €15 billion trade surplus. The statistical agency said the deterioration was driven by a wider energy deficit and shrinking surpluses in key industrial sectors, including machinery, motor vehicles and chemicals. Eurozone exports rose just 0.1% year on year in May, compared with a 4.9% annual increase in April, while imports climbed 10% year on year, up from 9.4% in April. The figures also showed the European Union's overall trade gap expanding to €12.1 billion in May from €7.2 billion in April, Eurostat reported.