(CEP News) Frankfurt - The euro zone trade deficit contracted beyond expectations in February, Eurostat reported on Friday.

According to the statistics office, the trade deficit fell to €2.0 billion from a previous level of €10.9 billion, well below the €5.0 billion deficit figure forecast. Meanwhile, January’s figure was revised up from a previous deficit figure of €10.5 billion.

In a press release, Eurostat noted that euro zone exports contracted 24% year-over-year to €99.2 billion, while imports fell 21% over the same period to €101.2 billion.

In seasonally adjusted terms, the trade deficit fell to €4.0 billion, down from both the €4.9 billion level expected and January’s €5.4 billion figure, revised down from €5.5 billion.

Written by CEP News European Staff, eunews@economicnews.ca; edited by Nick Say, nsay@economicnews.ca

CEP Newswires - CEP News © 2009. All Rights Reserved. www.economicnews.ca

The Copying, Broadcast, Republication or Redistribution of CEP News Content is Expressly Prohibited Without the Prior Written Consent of CEP News.

A copy of CEP News disclaimer can be found at http://www.economicnews.ca/cepnews/wire/disclaimer.

Posted in Categories: Economy, Eurozone, Releases.

Subscribe by RSS Subscribe by Email