BRUSSELS - The eurozone recorded a higher than expected trade surplus in November thanks to surging exports and flat imports, data showed on Tuesday, indicating rising competitiveness of the bloc as well as subdued domestic demand caused by recession.
The European Union's statistics office Eurostat said the unadjusted trade surplus of the 17 countries sharing the euro was 13.7 billion euros (US$18.32 billion) in November, up from 4.9 billion euros a year earlier as exports jumped 5 per cent and imports were flat.
In the first 11 months of 2012, eurozone exports rose 8 per cent against the same period of 2011, while imports rose just 2 per cent.
A more detailed breakdown of the January-November period was not yet available, but data showed that in January-October, exports of eurozone machinery, cars and other manufactured products offset higher costs of imports of oil and gas.
