Eurozone balance of trade slides into deficit
By Abigail Townsend
Date: Thursday 15 Jun 2023
(Sharecast News) - The Eurozone balance of trade fell back into deficit in April, official data showed on Thursday.
According to Eurostat, the statistical office of the European Union, the seasonally-adjusted trade balance in April was a deficit of €7.1bn, compared to a revised surplus of €14bn in March.
Analyst had expected a smaller surplus, of around €8.5bn.
Imports jumped by 5.9% month-to-month, while exports tumbled 3.2%. There were large increases in imports from Asia - in particular China - UK and the Opec oil cartel, while exports to Switzerland, the UK and US were the biggest fallers.
Claus Vistesen, chief Eurozone economist at Pantheon Macroeconomics, said: "This headline is very difficult to square with the advance data in Germany and France, so we are a bit sceptical that these numbers will survive revisions.
"It looks as if the surge in imports from Asia has re-started, but we need more data to be sure."
Special promo:
Trading the Forex Market? Visit FXmania.com to get advanced infomation about currencies and the Foreign Exchange
Market.
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN