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9:25 GMT
17
Apr 2009

Euro Zone Trade Deficit Narrows More Than Expected in February

(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

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Posted in Categories: Economy, Eurozone, Releases.

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