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Eurozone trade surplus shrinks in March

Eurozone trade surplus shrinks in March

Mubasher: Preliminary estimates suggested that the Eurozone trade balance surplus came in at EUR 22.5 billion ($25.20 billion) in March, from EUR 26.9 billion in the same month last year.

Eurozone exports with the rest of the world climbed by 3.1% to EUR 205.6 billion last March, compared to EUR 199.5 billion in exports in the same month of the previous year, data released by the Eurostat showed on Thursday.

On the other hand, Eurozone imports from the rest of the world surged by 6% year-on-year to EUR 183.1 billion during the month.

Meanwhile, trade balance for the 28 Members of European Union (EU28) posted a surplus of EUR 2.9 billion ($3.24 billion) last March, compared with a surplus of EUR 11.2 billion for the same month a year earlier.

EU28 exports rose by 1.2% to EUR 173.4 billion during March from EUR 171.3 billion in the same month last year.

However, EU28 imports climbed by 6.4% year-on-year to EUR 170.4 billion, from EUR 160.1 billion.

Intra-Eurozone trade declined by 0.3% year-on-year to EUR 172.1 billion in March, while Intra-EU28 trade volume grew by 2.7% to EUR 317.2 billion.

By 9:05 am GMT, the EUR/USD pair rose by 0.12% to $1.1221.