Eurozone trade surplus increases

The external trade surplus of the eurozone increased to €12.6 billion (£11.2 billion) in July, compared with a revised €5.4 billion in June, according to trade statistics released by Eurostat.

The fourth successive month of expansion in the trade surplus supported hopes of the eurozone returning to growth in the third quarter of 2009.

Seasonally-adjusted exports rose by 4.1% over the month, compared with the 0.9% increase recorded in June.

Imports fell by 0.3% in July, compared with 0.2% growth over the previous month.

The trade balance with Britain was €24 billion for January – June 2009, compared with €30.1 billion over the same period in 2008.

The trade surplus with America fell to €13.4 billion from €25.8 billion, and the trade deficit with China decreased slightly to €45.1 billion, compared with a €51.1 billion deficit recorded over the first six months of 2008.

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