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Financial News: Eurozone Trade Surplus Declines On Weak Exports

Eurozone Trade Surplus Declines On Weak Exports

07/16/2021 - 05:32:00 (RTTNews)

(RTTNews) - The euro area trade surplus declined in May on weak foreign demand, official data from Eurostat revealed on Friday.

The trade surplus fell to a seasonally adjusted EUR 9.4 billion in May from EUR 13.4 billion in April.

Exports dropped 1.5 percent on a monthly basis in May, while imports grew 0.7 percent.

On an unadjusted basis, the trade balance showed a surplus of EUR 7.5 billion in May compared to EUR 8.9 billion surplus in the same period last year.

Shipments increased 31.9 percent from May 2020, a month which had been heavily affected by the COVID-19 containment measures widely introduced by the member states. Imports advanced 35.2 percent annually.

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