Volatile energy trade balance due to energy prices – Products Eurostat News

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Between 2010 and 2020, the energy trade deficit in the EU has decreased by 47%, while in 2021 (based on January to October figures) it has increased by 58% compared to the same months of the previous year. The volatility of the energy trade balance is largely due to the fluctuation of energy prices, while the quantities of energy imports and exports change much less over time, imports being at a much higher level than exports.

Due to the large share of energy products in total trade, the trade balance of total trade follows much the same pattern as the trade balance of energy products, but at a different level. Trade in other product groups over the same period has been less volatile than the trade balance in energy products.

Source dataset: DS-018995

Energy imports fell slightly between 2010 and 2019 (-4% in value, -2% in volume), mainly due to a drop in gas imports. The drop was much stronger between 2019 and 2020 (-40% in value, -11% in volume).

Bar chart: imports of main energy products, in billions of euros and in millions of terajoules, comparing 2010, 2019 and 2020 in the EU

Source dataset: DS-018995

This article is published on the occasion of the European Days of Industry. It is a flagship annual event, highlighting industrial forerunners and ongoing industrial policy discussions while enhancing the knowledge base of European industry.

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