Euro Zone trade deficit grew in January.

March 19, 2008 - Forex Economic News

The euro zone's international trade deficit increased in January according to data from Eurostat. The euro zone's 15 countries that use the euro currency had a trade deficit of €10.7 billion in January after a revised deficit of €4.1 billion in December. The euro zone had a trade deficit of €7.3 billion in January of 2007. The deficit surpassed market expectations as market forecasts had expected a deficit of around €7.0 billion. Seasonally adjusted imports and exports both increased by 7.4 percent in January according to the report after exports decreased 3.5 percent in December while imports decreased 0.8 percent.

The trade deficit for all of the 27 nations in the European Union also increased in January. The EU27 posted a deficit of €30.7 billion after a deficit of €17.6 billion in December. January's deficit was €4.7 billion wider than the deficit of €26.0 billion in January of 2007. In seasonally adjusted terms, January's exports rose by 6.2 percent while imports rose by 4.9 percent.

Tags: euro zone, eu15, eu27, trade balance, trade deficit, eurostat, european union

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