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Eurozone trade surplus edges higher

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BRUSSELS, Dec 17 AFP

December 18 2012, 01:13AM

The 17-nation eurozone has posted an October trade surplus of 10.2 billion euros ($A12.8 billion), up from 9.5 billion euros in September, official data shows.

Eurozone exports in October, in seasonally adjusted terms, fell by 1.4 per cent from the level in September while imports gained 0.6 per cent, the Eurostat statistics office said on Monday.

In October 2011, the eurozone ran a trade deficit of 700 million euros.

In marked contrast, the full 27-member EU suffered a trade deficit of 9.4 billion euros in October, after a shortfall of 12.5 billion euros in September, with exports down 1.7 per cent and imports up 0.3 per cent in seasonally-adjusted terms.

A trade surplus contributes to growth, whereas a trade deficit tends to reduce it.