Eurozone trade deficit hits 16.1 billion euros in August, marking the widest gap in over three years

(1) The eurozone recorded a trade deficit of 16.1 billion euros in August 2026, compared to a surplus of 502 million euros in the same period last year. This is the largest deficit since January 2023. (2) Imports rose by 16.7% year-on-year to 243.8 billion euros, marking the second-highest August figure on record, surpassed only by 2022. The conflict in the Middle East and resulting disruptions to oil tankers in the Persian Gulf drove oil and petroleum product imports up 20.7% to 27 billion euros. (3) Imports of chemical products increased 11.2% to 29.8 billion euros, while imports of manufactured goods surged 12.7% to 169.3 billion euros. (4) Exports grew 9.9% to 227.7 billion euros, with overseas sales of manufactured goods increasing 5.9% to 179.3 billion euros. (5) Exports to the US totaled 39.3 billion euros, up 18.5% year-on-year, reflecting a stabilization in trade after the US enacted a series of tariffs last year.