The European National External Balance of Goods and Services in 2023 showed a varied landscape across countries. Luxembourg leads with a substantial surplus of €28.7 billion, influenced by a 7.77% increase from the previous year. Austria and Belgium remain stable with surpluses of €14.76 billion and €6.93 billion, respectively. Malta, Lithuania, and Portugal also maintain positive balances. Conversely, Latvia, Montenegro, and Greece show deficits, with Greece experiencing a significant shortfall. Over the past five years, a modest average annual growth has been observed, though year-on-year changes vary significantly.
Looking forward, use of artificial intelligence in trade processes and increased trade integration through new policies will significantly influence Europe's external balance landscape. Monitoring the impact of global supply chain shifts and the EU's green transition on trade margins will be crucial. Countries with current deficits need strategies to stimulate exports and improve competitiveness in the international marketplace.
Top countries in National External Balance of Goods and Services by Country
| # | 9 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Luxembourg | 28,700 | 2023 | +5.06% | +7.77% | View data |
| 2 | 2 Austria | 14,760 | 2023 | +9.01% | View data | |
| 3 | 3 Belgium | 6,930 | 2023 | +3.46% | View data | |
| 4 | 4 Malta | 2,800 | 2023 | +15.14% | View data | |
| 5 | 5 Lithuania | 2,480 | 2023 | +1.91% | View data | |
| 6 | 6 Portugal | 1,920 | 2023 | -1940% | View data | |
| 7 | 7 Latvia | -176.15 | 2023 | +87.39% | View data | |
| 8 | 8 Montenegro | -1,090 | 2023 | -0.34% | View data | |
| 9 | 9 Greece | -19,930 | 2023 | +14.87% | View data |
