Eurozone Dec. Trade Surplus Rises Unexpectedly

Eurozone Dec. Trade Surplus Rises Unexpectedly




Eurozone's merchandise trade surplus increased from the previous month in December, contrary to economists forecast for a decline, data released by statistical office Eurostat showed Wednesday.
The trade surplus increased to EUR9.7 billion in December from a revised EUR6.3 billion in November. Economists expected the trade surplus to fall to EUR3.5 billion. The balance from extra-EU27 trade was a surplus of EUR1.7 billion during the month.
Export of goods from the euro area edged up a seasonally adjusted 0.1 percent month-on-month in December. Extra-EU27 exports rose 1.4 percent during the month.
The value of imports dropped 0.9 percent from the previous month. Extra-EU27 imports decreased 0.5 percent in December.
In the year 2011, the trade balance was a deficit of EUR7.7 billion, down from the EUR14.7 billion deficit recorded in the previous year. Exports and imports increased 13 percent and 12 percent respectively during the year.


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