FXstreet.com (Barcelona) - The trade balance between the Euro Area countries and the rest of the world has fallen well into the deficit side in March as exports decreased considerably while the volume of imports remained practically unchanged, as the latest report by Eurostat shows.
According to the first estimation, Euro Area trade balance has posted a 2.3 billion euro deficit in March, after the 0.8billion euro surplus posted in February. In March last year the Euro Zone trade balance posted q a7.5 billion euro surplus.
In seasonally adjusted terms, EU trade deficit totalled 2.4 billion euro, from 1.6 billion surplus in February.
In March 2008 exports from the Euro area declined 2.9% from the same month last year, while imports remained unchanged.