The eurozone trade deficit narrowed in January on higher exports, data released by Eurostat showed on Friday.
The trade deficit declined to EUR 7.7 billion from EUR 9.7 billion in December. The trade balance has been negative for the third straight month.
Eurostat said the trade balance increased slightly in January compared to December when it had reached a level almost as low as in July 2008 when the lowest level since the start of the time series in 1999 had been recorded.
Month-on-month, exports grew by a seasonally adjusted 3.4 percent and imports advanced 2.3 percent in January.
The EU trade deficit narrowed to a seasonally adjusted EUR 14.8 billion from EUR 17.4 billion a month ago.
On a yearly basis, eurozone exports climbed 18.9 percent in January. Meanwhile, imports logged a strong 44.3 percent expansion. As a result, the trade balance turned to a deficit of EUR 27.2 billion from a surplus of EUR 10.7 billion in the previous year.
