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Home BUSINESSEuro zone’s trade surplus widens
Sat, 17 Aug, 2013 12:22:47 AM
FTimes News Desk, August 17
The EU's statistics office, Eurostat, said on Friday the euro area’s trade surplus widened in June from a year earlier and from the previous month, news agency STT reported quoting Reuters.
Trade surplus was due to a reduction in imports by 6 per cent. The EU zone's trade surplus rose to more than EUR 17 billion from just under 13 billion euros.
Improvement in the trade balance does not reflect the strengthening of the euro area economy as exports fell by 3 per cent.
Eurostat confirmed the July annual inflation rate was flat at 1.6 percent for the second month in a row, staying well below the European Central Bank's target of just under 2 percent.
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