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Euro surplus soars despite currency

Official figures show that the euro zone's trade surplus surged nearly fivefold in June from May despite the strength of the euro.

The trade balance of the 13 countries sharing the euro showed a surplus with the rest of the world of €7.8 billion in June, the EU's Eurostat agency said.

That marked a sharp improvement from May when the surplus stood  at €1.7 billion.

In June, exports grew 9% compared with the same month last year to €128.3 billion, outstripping 4% growth in imports to €120.5 billion.