Eurozone trade surplus grows

The trade balance of the 16 countries using the euro moved further into surplus in April, according to the Eurostat EU data agency yesterday. The eurozone chalked up a trade surplus of €2.7 billion ($3.7 billion) in April, up from €1.8 billion in March and €2.2 billion in April last year, Eurostat said in a first estimate.

The March surplus, the first since June last year, was revised up sharply from an initial estimate of only €400 million.

Exports fell 27 per cent in April over one year to €102.1 billion while imports dropped 28 per cent to €99.4 billion.

Meanwhile, the 27-nation European Union logged a trade deficit of €7.8 billion in April, after a shortfall of €9.3 billion in March and €14.9 billion in April last year.