Euro-Zone Trade Deficit Narrows, But Fails to Meet Expectations

Daily Forex Fundamentals | Written by DailyFX | Oct 17 08 09:15 GMT |

The eurozone August sa trade deficit narrowed to EUR 6.1 bln from EUR 6.7 bln in the previous month. The result was not quite as positive as expected in the light of lower oil prices that month, but the 2.2% m/m decline in nominal imports was fully compensated by the 2.3% m/m drop in nominal exports that month. Unadjusted data show a trade deficit of EUR 9.3 bln, versus a surplus of EUR 1.5 bln in August last year and after a EUR 2.0 bln deficit in July. Accumulated data for the first eight months of the year show a deficit of EUR 24.0 bln, versus a surplus of EUR 16.5 bln in the corresponding period last year.

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