Eurozone trade deficit narrowed to EUR 2 billion in February from January's revised EUR 10.9 billion deficit, the Eurostat said Friday. Economists had expected the deficit to contract to EUR 5 billion.

After adjusting for seasonal variations, the trade balance was a deficit of EUR 4 billion in February versus EUR 5.4 billion shortfall in January. The adjusted deficit narrowed more than the expected deficit of EUR 4.9 billion.

Seasonally adjusted exports rose 0.5% month-on-month, while imports fell 0.8%. This follows an 11.9% decline in exports in January and an 8.3% fall in imports.

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