EZ trade deficit slashed in May

The eurozone almost wiped out its trade deficit in May, according to data published on Friday, as exports of chemicals and machinery picked up imported energy products fell.

The seasonally-unadjusted trade balance in the single-currency bloc was a €0.3bn deficit in May compared with a €30.3bn shortfall a year earlier.

On a seasonally-adjusted basis, the May trade deficit was a €0.9bn from €8bn in April.

For the European Union as a whole, the trade surplus in manufacturing goods rose to €142.3bn in Jan-May 2023, nearly double that of a year earlier.

Reporting by Frank Prenesti for Sharecast.com