The euro zone clocked a trade surplus of 13.1 billion euros ($17.65 billion) in September, according to a preliminary estimate from Eurostat, beating expectations of a surplus of 10 billion euros.
September’s figure was up from a surplus of 8.6 billion euros in the corresponding month in 2012, and also higher than August’s 6.9 billion euros in surplus, as exports rose by 1 percent while imports fell by 0.3 percent on a monthly basis.
The 28-member European Union recorded a trade surplus of 0.6 billion euros, in September, compared with a deficit of 14.5 billion euros in the same month in 2012. The September surplus followed a deficit of 2.4 billion in August. In the EU, exports rose by 0.2 percent while imports fell by 0.2 percent, in a month-on-month comparison.
EU’s imports from most of its major partners fell in the January to August period compared with the corresponding period in 2012, except for a 4 percent increase in imports from Turkey and steady imports from India.
The sharpest decline were recorded for imports from Japan (-17 percent), Brazil (-15 percent) and Norway (-11 percent). In the case of EU’s exports, the largest increases were seen in exports to Switzerland (+32 percent) and Turkey (+5 percent), and the most significant falls were in exports to India (-4 percent), and the U.S. and Japan (both -3 percent).
Among EU members, the largest surplus in the January to August period was observed in Germany (127.8 billion euros), while France registered the largest deficit at 50.1 billion euros.
Gayathri writes about geopolitics and business for International Business Times. She began her career at the Times of India as news coordinator, before moving on to IBTimes...