Euro zone monthly deficit is narrowing

Source: Agencies | April 18, 2009, Saturday |

Print Edition

THE trade deficit in the 16 countries that share the euro currency narrowed to 2 billion euros (US$2.6 billion) in February, according to estimates released by the European Union's statistics agency yesterday.

That is a much smaller deficit than in January, when it stood at 10.9 billion euros, according to figures compiled by Eurostat. In February last year, however, the single currency area enjoyed a 1.7-billion-euro trade surplus.

The EU said that the entire 27-nation bloc recorded a 10.6-billion-euro trade deficit in February and a 27.2-billion-euro trade deficit in January.

It said trade flows with all of the bloc's major trading partners fell in January. Exports to Turkey dropped 44 percent, Russia 36 percent and India 32 percent.

Economy

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Euro zone monthly deficit is narrowing

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