Eurozone trade surplus drops sharply in 2010

22:11, February 15, 2011      

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Eurozone's trade surplus dropped sharply in 2010 compared with the previous year, the European Union's (EU's) statistics office Eurostat said on Tuesday.

According to the flash estimates of Eurostat, eurozone registered a trade surplus of 0.7 billion euros (0.9 billion U.S. dollars) last year, much lower than the 16.6 billion euros (22.4 billion dollars) it secured in 2009.

In December 2010, the 17-member bloc saw a trade deficit of 0.5 billion euros (0.6 billion dollars), while it registered a trade surplus of 3.2 billion euros (4.3 billion dollars) in the same period of 2009.

Year on year, eurozone exports rose by 20 percent, while imports increased by 20 percent in December.

The 27-nation EU registered a larger deficit in 2010. Its trade balance with the rest of the world was a 14.3-billion-euro (19.3-billion-dollar) deficit, compared with a deficit of 108.1 billion euros (145.9 billion dollars) in 2009.

During the first 11 months of last year, EU trade with all its major partners grew compared with the same period of 2009.

Source: Xinhua

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