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Euro zone trade falls back into deficit

Euro zone January deficit an improvement on same time last year
Euro zone January deficit an improvement on same time last year

Euro zone trade with the rest of the world fell back into a deficit in January after posting a surplus in December, provisional figures released by the Eurostat statistics office showed today.

The 17-nation bloc had a deficit of €7.6 billion in January, compared with a surplus of €9.1 billion a month earlier, the EU's statistics service said in a statement.

Compared with January 2011, however, the deficit showed an improvement since it stood then at €16.1 billion, according to a revised figure.

In January, seasonally corrected figures for exports showed an increase of 1.3% on a monthly basis, while imports were 2.4% higher.

For the larger 27-member European Union, the data displayed a bigger trade deficit worth €23.8 billion in January, compared with a surplus in December of €1.6 billion. One year earlier the EU trade deficit had come to €31.2 billion.