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Eurozone Trade Balance Turns To Deficit In January

Eurozone's merchandise trade balance slipped to a deficit in January, and exceeded economists' forecast, data released by statistical office Eurostat showed Friday.

The trade balance was a deficit of EUR7.6 billion in January, compared to a surplus of EUR9.1 billion in December, which was revised down from EUR9.7 billion. Economists were looking for a deficit of EUR3 billion in January.

Exports of goods increased a seasonally adjusted 1.3 percent month-on-month to EUR152.3 billion in January, faster than the previous month's 0.9 percent growth

Imports increased 2.4 percent sequentially to EUR146.4 billion during the month, recovering from the previous month's 0.4 percent decrease.

In the European Union, the trade deficit was EUR23.8 billion, compared to the EUR 1.6 billion surplus recorded in December. Seasonally adjusted exports and imports increased by 1.5 percent and 3.5 percent respectively during the month.

by RTTNews Staff Writer

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