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Eurozone Trade Deficit Narrows to €7.6B in February

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White coloured shop sign in front of a trade building

The euro area posted a €7.6 billion trade deficit in February, significantly less compared to the prior month.

Source: eurostat

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The eurozone’s exports to the rest of the world grew by 17% year-on-year to €215.8 billion as imports jumped 38.8% to €223.4 billion in the same period.

Intra-euro trade surged 25.6% to €202.5 billion. Annually, all the member states posted increases in trade-EU exports, except Latvia (7.2%). Cyprus led all EU member states with the largest increase of 95.4%.

For the entire EU, the trade deficit stood at €15.8 billion.

Goods exports increased by 16.4% compared to February last year to €191.9 billion as imports rose nearly 44.7% to €207.7 billion.

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