Eurozone goods deficit widened in May to the biggest since January 2023 as rising energy imports and narrower surpluses in chemicals and machinery offset very weak export growth. Exports rose just 0.1% YoY in May while imports climbed 10% YoY; a year earlier May had a €15 bln surplus. The Jan–May cumulative trade surplus has shrunk to €3.3 bln from €78.7 bln a year ago. Seasonally adjusted May goods deficit was €5.0 bln. Energy was the main drag: the May energy deficit hit €30.3 bln versus a typ

Eurozone goods deficit widened in May to the biggest since January 2023 as rising energy imports and narrower surpluses in chemicals and machinery offset very weak export growth. Exports rose just 0.1% YoY in May while imports climbed 10% YoY; a year earlier May had a €15 bln surplus. The Jan–May cumulative trade surplus has shrunk to €3.3 bln from €78.7 bln a year ago. Seasonally adjusted May goods deficit was €5.0 bln. Energy was the main drag: the May energy deficit hit €30.3 bln versus a typical €18–20 bln before the US–Iran conflict. Chemicals and related products surplus fell to €18.4 bln from €20.5 bln in April. Machinery and vehicles surplus narrowed to €4.4 bln from €6.3 bln.