Eurozone sees 1st trade surplus in 17 months

By Tuba Ongun

ANKARA (AA) - The eurozone trade balance posted a €4.6 billion ($5 billion) surplus in February, leaving deficit territory for the first time in about a year-and-a-half, the EU's statistical office said on Thursday.

"The euro area recorded, for the first time since September 2021, a surplus of €4.6 bn in trade in goods with the rest of the world in February 2023, compared with a deficit of €9.4 bn in February 2022," Eurostat said in a statement.

Eurozone exports of goods to the rest of the world rose 7.6% year-on-year to €232.7 billion in February, while imports edged up 1.1% to €228.1 billion.

Intra-euro area trade amounted to €224.4 billion in February, up 8% from a year earlier.

The EU27 saw a trade surplus for the first time since June 2021, hitting €4.8 billion in February.

The first estimate for extra-EU exports of goods was €207.7 billion, ticking up 8% from the same month last year, while imports from the rest of the world stood at €202.9 billion, down 2.8%.