RTTN:Eurozone Records EUR 0.9 Billion Trade Surplus In January
Eurozone's merchandise trade with the rest of the world resulted in a surplus in January, marking an improvement from the deficit recorded a year earlier, preliminary data published by statistical office Eurostat showed Tuesday.
The balance of January's foreign trade, on an unadjusted basis, was a surplus of EUR0.9 billion, compared to a deficit of EUR5.4 billion in the corresponding month of last year. Economists were looking for a surplus of EUR13.9 billion for January. In December 2013, the bloc recorded a trade surplus of EUR13.8 billion.
Goods exports advanced 1 percent year-on-year to EUR147.7 billion in the beginning of the year. Meanwhile, imports decreased 3 percent annually, and reached EUR146.8 billion.
The Eurostat further noted that January's trade with countries outside the European Union (EU) resulted in a deficit of EUR13 billion, which was lower than the EUR17.7 billion shortfall registered a year earlier. Exports to non-EU countries dropped 1 percent annually, and imports contracted 3 percent.
Concerning the total trade of EU member states, the largest surplus was seen in Germany, followed by the Netherlands, Ireland, Italy, Belgium, the Czech Republic and Denmark. The United Kingdom registered the largest deficit, followed by France, Greece and Spain.
