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Financial News: Eurozone Trade Surplus Increases On Exports

Eurozone Trade Surplus Increases On Exports

10/16/2020 - 05:32:00 (RTTNews)

(RTTNews) - The euro area trade surplus increased in August as the growth in exports exceeded the rise in imports, data from Eurostat revealed Friday.

Exports grew 2 percent on a monthly basis and imports advanced 0.5 percent. However, exports and imports continued to stay below the pre-crisis level, Eurostat reported.

Compared to February, the month before restrictions were imposed, both exports and imports were down by 11.0 percent and 10.7 percent, respectively.

The trade surplus rose to a seasonally adjusted EUR 21.9 billion from EUR 19.3 billion in July.

On a yearly basis, exports decreased 12.2 percent and imports dropped 13.5 percent in August. The unadjusted trade surplus totaled EUR 14.7 billion versus EUR 14.4 billion a year ago.

During January to August period, exports decreased 12.4 percent from the last year and imports fell 13.1 percent. As a result, the euro area recorded a surplus of EUR 127.0 billion compared with EUR 133.7 billion in January to August 2019.

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