FX.co ★ Eurozone Trade Surplus Rises In January

The Eurozone saw its trade surplus escalate in January as exports saw a rise while imports declined, according to Monday's report from Eurostat. There was a noticeable leap in the seasonally adjusted surplus, going from EUR 14.3 billion in December to EUR 28.1 billion in January. Concurrently, a 2.1 percent growth in exports was reported on a monthly basis, accompanied by a monthly decrease of 4.0 percent in imports. An unstandardized comparison of the trade balance revealed an improvement as well, indicating a surplus of EUR 11.4 billion in January in stark contrast to the shortfall of EUR 32.6 billion of the same period in the prior year. Furthermore, exports saw an additional modest growth of 1.3 percent while imports reported a drastic downturn of 16.1 percent.