Friday, June 18, 2010

Euro zone April trade surplus smaller than expected

BRUSSELS: The euro zone had a smaller-than-expected trade surplus in April, unadjusted data showed on Tuesday, June 15, as exports surged year-on-year but marginally less than imports.

The 16-country area had an external trade surplus of '1.8 billion (US$2.4 billion) as exports rose 18% year-on-year and imports surged 19%, the European Union statistics office said. March's surplus was '4.5 billion.

In April 2009, the surplus was '2.6 billion.

Economists polled by Reuters had on average expected a '3.7 billion unadjusted trade surplus for April this year.

The sharp rise in exports is likely to point to a rebound in global demand for euro zone goods. The increase in imports is seen signaling higher domestic demand, boding well for economic recovery.

Adjusted for seasonal swings, the trade surplus in April totaled '1.4 billion as exports dropped 2.4% month-on-month and imports fell 3.5% against March. ' Reuters


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