Eurozone trade deficit hits three-year high as imports surge

16th Oct 2026 10:55

(Sharecast News) - The eurozone recorded its largest trade deficit since January 2023 in August, as imports surged amid widening imbalances in energy and manufactured goods, according to figures released by Eurostat on Friday.

The 21-member currency bloc posted a €16.1bn deficit in goods traded with the rest of the world, compared with a €10.7bn surplus in July and a €1.7bn deficit in August 2025.

Imports jumped 16.7% year-on-year to €243.8bn, significantly outpacing the 9.9% increase in exports to €227.7bn.

The deterioration came amid disruption to global energy supplies resulting from the war in the Middle East, with the eurozone's energy trade deficit widening to €26.7bn from €21.3bn a year earlier.

The balance of trade in machinery and vehicles also weakened sharply, swinging from a €7.2bn surplus in August 2025 to a €0.7bn deficit.

Across the first eight months of 2026, the eurozone recorded a cumulative trade deficit of €5.4bn, a sharp reversal from the €90.9bn surplus registered during the same period last year.

Exports increased 2.1% to €1.99trn over the eight-month period, while imports rose 7.3% to €2.0trn.