Despite the euro's appreciation over the past period the euro area exports still find demand as the global economy recovers.

Seasonally adjusted trade deficit shrunk in February to 2.4 billion euros from a revised 3.1 billion deficit from 3.3 billion and was better than the expected 3.6 billion widening. In Non-seasonally adjusted terms the deficit contracted strongly to 1.5 billion euros from a revised 15.6 billion deficit from 14.8 billion and was also better than the expected 4.0 billion deficit.