Euro zone June trade surplus falls by less than expected
Reuters
Published Aug 16, 2018 10:29
Euro zone June trade surplus falls by less than expected
BRUSSELS (Reuters) - The euro zone's surplus for goods traded with the rest of the world fell by less than forecast in June, European statistics office Eurostat said on Thursday, suggesting the bloc may be weathering international trade frictions better than expected.
While fears of a disruptive trade war between the EU and the United States spooked markets in the second quarter of the year, such concerns subsided after U.S. President Donald Trump and EU Commission President Jean-Claude Juncker struck a deal last month.
Eurostat said the 19-country currency bloc had a goods trade surplus of 22.5 billion euros (£20.11 billion) in June, down from 25.7 billion a year earlier, but well above the 18 billion euros expected in a Reuters poll of seven economists.
While imports into the euro zone increased by 8.6 percent in June, exports were 5.7 percent higher.
For the European Union as a whole, exports to the United States increased by 3.9 percent in the first half of 2018, while imports fell by 2.4, widening the EU's trade surplus with its largest trading partner.
The data adds to a string of better economic news for the bloc after some downbeat signals earlier. On Tuesday, Eurostat revised up its estimate for economic growth in the euro zone in the second quarter.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.