Eurozone Trade Surplus Shrinks In November

(RTTNews) - The eurozone trade surplus decreased in November from a year ago as exports fell faster than imports, Eurostat reported Thursday.

The trade surplus dropped to EUR 16.4 billion in November from EUR 18.2 billion in October.

Nonetheless, the surplus grew markedly from EUR 8.6 billion in October. The monthly increase was mainly due to an increase in the surplus for chemicals and related products and a shift in the balance for other manufactured goods, Eurostat said.

Exports posted an annual decline of 1.6 percent, and imports decreased by 1.0 percent in November.

Shipments to China fell 12.8 percent, while inflows from Asia's largest economy increased 2.0 percent. As a result, the trade deficit with China widened to EUR 28.6 billion from EUR 25.3 billion a year ago.

Meanwhile, the trade surplus with the US rose from EUR 15.9 billion to EUR 18.7 billion as imports fell 6.9 percent annually amid an increase of 1.6 percent in exports.

On a seasonally adjusted basis, exports of goods climbed 3.2 percent, and imports grew at a comparatively slower rate of 0.7 percent. As a result, the trade surplus climbed to EUR 12.9 billion in November from EUR 7.0 billion in October.