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Eurozone runs EUR 19bn trade surplus in September

Eurozone runs EUR 19bn trade surplus in September

Mubasher: Preliminary estimates suggested that the Eurozone ran a trade balance surplus of EUR 18.7 billion ($20.6 billion) in September, higher than a surplus of EUR 12.6 billion in the same month last year.

Outbound shipments from the Eurozone to the rest of the world climbed by 5.2% to EUR 196.2 billion last September, compared with EUR 186.5 billion in exports in the same month last year, according to the Eurostat’s data released on Friday.

Meanwhile, Eurozone imports from the rest of the world rose by 2.1% year-on-year to EUR 177.6 billion during the month.

The 28 Members of European Union (EU28) ran a trade deficit of EUR 5 billion ($5.5 billion) last September, which was worse than a deficit of EUR 1.5 billion the year before.

Exports from the EU28 totalled EUR 168.3 billion during the month, compared with EUR 161.3 billion a year ago, while EU28 imports climbed year-on-year by 6.4% to EUR 173.3 billion.

Intra-Eurozone trade edged up by 0.9% year-on-year to EUR 163.4 billion in September, while Intra-EU28 trade volume rose by 2.3% to EUR 301 billion.

By 11:06 am GMT, the EUR/USD pair inched up by 0.06% to $1.1029.