Eurozone Dec trade surplus shrinks to 2.5 bln euros m/m

BRUSSELS - The euro zone’s foreign trade surplus shrank to 2.5 billion euros ($3.3 billion) in December from a revised surplus for November of 5.1 billion euros, the European Union statistical office Eurostat said on Friday.

By (Reuters)

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Published: Fri 16 Feb 2007, 5:01 PM

Last updated: Sat 4 Apr 2015, 9:55 PM

The figure for December 2005 was minus 1.1 billion euros.

The non-seasonally adjusted figures showed that in the whole of 2006, the euro zone had a 8.2 billion-euro trade deficit, compared with a surplus of 16.2 billion euros in 2005, mainly due to higher costs of energy imports.

Eurostat said the euro area boosted its non-seasonally adjusted exports by 8 percent to 118.1 billion euros year-on-year in December while imports grew by 4 percent to 115.7 billion euros.

Economists polled by Reuters had expected a 2.5-billion-euro trade surplus in December.

For the whole, then 25-nation EU, December brought a trade deficit of 7.3 billion euros.

Eurostat also said that in December exports, seasonally adjusted, rose 2.3 percent month-on-month and imports 2.7 percent.

Non-seasonally adjusted figures showed that the deficit in energy trade soared to 227.5 billion euros for the euro zone in the January-November period from 181.3 billion euro in the same period of 2005.

But the surplus in manufacturing good increased to 223.8 billion euros over the period from 206 billion euros in the first 11 months of 2005, boosted by strong sales of machinery and vehicles.

The euro zone’s trade deficit with China, which some politicians complain floods the EU with cheap imports, grew to 81.7 billion euro in the January-November period from 68.1 billion euros in the like period of 2005.

The deficit with Russia, the euro zone’s main energy supplier, widened to 37.9 billion euro in the first 11 months of 2006 from 29.6 billion euro in the similar period of 2005 as prices of oil stayed high for most of last year.

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